GCC director shared insights on boards in the public sector during the ‘Verslo žinios’ discussion.
On March 6, the Director of the Governance Coordination Center (GCC), Vidas Danielius, participated in the conference “Public Sector. Changes. Experiences. Practices”, organized by Verslo žinios. During one of the discussions, he shared insights on boards in the public sector.
During the discussion, V. Danielius, together with other experts from the state-owned enterprise (SOE) sector, explored what qualities boards should have to create value.
The VKC director shared insights on the knowledge, experience, competencies, and qualities needed for a strong board candidate, as well as the necessary skills for today’s and tomorrow’s boards. Along with other panelists, he discussed whether an experienced executive is automatically a great board member and examined what board professionalism, independence, and diversity mean.
“I thank the conference organizers for the opportunity to discuss such an important and relevant topic. The SOE sector has changed significantly over the past decade—efficiency and transparency have increased, returns to the state have grown, and goals, transparency, and professionalism in board selection have improved. Professional boards are one of the key elements of SOE progress, as they are responsible for making crucial corporate oversight decisions. And professionalism starts with properly forming the board and then ensuring it can function effectively as a team. Therefore, understanding the necessary competencies within a board and how to ensure high-quality board work is extremely important,” said VKC Director V. Danielius.
