Monthly Archives: November 2015
It was just a watch – albeit a very expensive one – that reignited the Russian public’s interest, as well as that of the rest of the world, in the level of bribery and corruption taking place in the former Soviet state. On 1 August 2015, Dmitry Peskov, Vladimir Putin’s official spokesman, married Tatiana Navka, an ice dancing gold medallist at the 2006 Olympics. Several pictures of the nuptials show Peskov sporting a Richard Mille RM 52-01 watch, which has an estimated value of between $400,000 (£260,310) and $670,000 (£436,020) – since only 30 of these watches exist, estimates vary about their true price tag. Not surprisingly, the watch’s value is far in excess of Peskov’s reported annual government income of approximately US$110,000 (£71,586).
The future of Information Governance (IG) is bright because it fills a critical corporate need – to extract maximum value from available information. IG is both an art and a science. We know the science will improve by 2020 and the art will grow as corporate leaders’ recognise IG’s contribution to the bottom line.
Engagement between directors and shareholders is on the rise, admittedly from a very low base in some markets and it’s a trend we expect to endure. Why? Because there are tangible benefits to companies and investors from having direct dialogue on key corporate governance matters, in their broadest sense, including how boards oversee management’s approach to the material environmental and social impacts of the business.
We are honoured to have received the 2015 Ethical Boardroom Best Corporate Governance Award for the Telecoms market. Telstra is Australia’s leading telecommunications company, offering a full range of communications services and competing in all telecom markets. In Australia we provide more than 16.7 million retail mobile services, 7.3 million fixed voice services and 3.1 million retail fixed broadband services. We also have an international presence spanning 20 countries, including a growing presence in Asia.
As CEO and executive director of the board of DEXUS Property Group, I am proud of our strong record of corporate governance. Good governance originates from the board and is well-articulated to senior management and across the business. Always aware that there is opportunity to enhance our governance, DEXUS is embarking on a period of refocus. One of the key foundations underlining our governance is our acknowledgement of the importance of ‘tone at the top’. Perhaps the biggest challenge for a board is to maintain oversight and not get involved in the day-to-day management of the business. The role of a good board is to oversee robust policies that support the success of the business.