Boards should ‘preset’ instead of reset: Keppel chairman Piyush Gupta
Boards should be viewed as a ‘collective of talent’, much like a football team, he says
Keppel chairman Piyush Gupta emphasizes that boards should focus on "presetting" their role rather than resetting it in response to changing business and regulatory environments. According to Gupta, boards should revert to their fundamental role as stewards of companies and long-term value, rather than serving as police forces to scrutinize management.
He argues that boards need to be responsible for strategy, direction, and value creation, not just oversight. Gupta, who previously served as CEO of DBS, provided insights into the challenges facing boards in the current regulatory landscape, including the volume of information required by boards. He suggested that boards should distill this information into an executive summary to focus on what truly matters.
Gupta also emphasized the importance of an "open the kimono" culture between management and the board, where management feels comfortable highlighting issues that require directors' attention. He highlighted the need for boards to be viewed as a "collective of talent," with a focus on domain expertise and the ability to learn and adapt to rapid changes in the business environment.
Written by urgent.news from The Business Times - Singapore's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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- Boards should ‘preset’ instead of reset: Keppel chairman Piyush Gupta businesstimes.com.sg
