WASHINGTON, Aug. 3, 2011 /PRNewswire/ -- The National Association of Corporate Directors (NACD) continues to raise the standards for director professionalism by introducing the first-ever national credentials for corporate directors. By completing educational requirements in the NACD Fellowship Program, directors obtain the credential and renew it annually. The credentials provide a tangible way for directors to demonstrate their commitment to staying informed regarding current and emerging issues and to providing measurable value in today's rapidly changing corporate environment. Additionally, NACD's director credentials provide investors a practical way to consider directors' engagement regarding ongoing education and professionalism.
"NACD's more than three decades of experience focused on developing, refining and advancing exemplary board practices enables directors to capitalize on our broad inventory of intellectual capital," said Ken Daly, president and CEO of NACD. "We know that well educated and engaged directors make better strategic decisions for their companies, which frequently relates to strong business results. The NACD Fellowship Program provides the required resources through a mix of informational, situational and skills-specific courses resulting in better informed directors."
Based on NACD's gold standard for director education and leading board practices, NACD's corporate director credentials enable individual directors and full boards to:
- Stay current on leading and next practices;
- Help ensure their decisions and judgments are based on sound interpretations of the current environment;
- Capitalize on emerging issues so they can engage them as opportunities instead of reacting to them as challenges; and
- Reinforce their reputations as diligent board members, even in times of great challenge.
According to Pat McGurn, executive director at Institutional Shareholder Services (ISS), "At a minimum, individuals serving as independent chairs and/or lead directors should earn fellowship status to bolster confidence in their leadership, both inside and outside the boardroom. Such information could become relevant for our analysts when they contemplate making recommendations on individual directors, including comparisons of candidates' skills in contested situations."
"The focus on the credentials of directors will only become more intense as the effort to improve corporate governance continues. With this in mind, the NACD program created to introduce "board leadership fellow" recognition could not be more timely. Fellow status will represent a differentiating factor that all governance constituencies will value highly," said Jim Brady, managing director, Ballantrae International Ltd; director, Constellation Energy Group, McCormick & Company and T. Rowe Price.
NACD will hold a webinar to discuss the director credentials and the fellowship program on Wednesday August 17, 2011, from 12:00 ET – 12:30 ET. To register for this complimentary webinar, please go to www.NACDonline.org/CredentialsWebinar.
"We need to keep talking, listening and learning. NACD's commitment to helping committee chairs, presiding directors and other experienced boardroom players understand the changing environment is key. America needs well-rounded directors who are sensitive to public company shareowners, and who can clearly demonstrate their value on their proxy disclosures. I look forward to meeting NACD Board Leadership Fellows everywhere I go," said Anne Sheehan, director, corporate governance, CalSTRS.
The National Association of Corporate Directors (NACD) is the only membership organization delivering the information and insights that corporate board members need to confidently confront complex business challenges and enhance shareowner value. With more than 11,000 members, NACD advances exemplary board leadership. NACD is focused on creating more effective and efficient boards through director-led education and peer forums to share ideas and leading practices based on more than 30 years of primary research. Fostering collaboration among directors and governance stakeholders, NACD is shaping the future of board leadership. To learn more about NACD, visit NACDonline.org. To join, please contact Kelly Dodd at kkdodd@NACDonline.org or 202-380-1891.
SOURCE National Association of Corporate Directors