Publication: The Incredible Adventures of Carla: Practical Guide for Nominee Directors
Date
2015-03
ISSN
Published
2015-03
Author(s)
Steger, Ulrich
Nedopil, Christoph
Abstract
This is a book about directorship. More
precisely, it’s about nominee directors, who are nominated
by IFC and other development finance institutions (DFIs) to
the boards of investee companies to fulfill a dual mandate:
first, they are expected to perform all the duties and tasks
of a board member. Second, they are also charged with
improving the corporate governance, sustainability, and
ethical behavior of the investee company. This need exists
because the empirical evidence indicates that in many
developing countries it is nearly impossible to create
long-term shareholder value without marked improvements in
these areas. This book, based on sound research and
real-life examples, offers not only a useful learning
platform but also, the authors hope, an entertaining read.
It focuses on directorship and leadership skills in the
boardroom and does not attempt to cover the whole
‘waterfront’ on corporate governance issues. Many other
publications (including some found on the IFC website) deal
extensively with the structures, processes, and legal
frameworks of corporate governance. The story emphasizes the
learning and adapting that must go on for a nominee director
to be effective in encouraging change and improvement on the
board and in the company. It draws on specific situations to
illustrate that IFC rules and instructions cannot always be
perfectly followed: the nominee director is in the ‘heat of
the battle,’ under time pressure, and confronted with
dilemmas and uncertainty that only in hindsight can be
structured and analyzed clearly. The target audience of the
incredible adventures of Carla is nominee directors,
especially those who are newly appointed or candidates who
are considering taking on such a role. It aims to expose
them to the challenges in the behavioral dimension of
corporate governance and to help them learn, through Carla’s
experience, the actions and communications that can help
them, or not help them, achieve the goals they are committed to.
Link to Data Set
Citation
“Steger, Ulrich; Nedopil, Christoph. 2015. The Incredible Adventures of Carla: Practical Guide for Nominee Directors. © World Bank Group, Washington, DC. http://hdl.handle.net/10986/22062 License: CC BY-NC-ND 3.0 IGO.”