Posted on March 3: Canada’s first directors college to be established at McMaster

The Conference Board of Canada and the Michael G. DeGroote School of Business at McMaster University announced today an agreement in principle to launch The Directors College for directors of Canadian corporations.

The program is aimed at meeting the expressed needs of corporations in Canada for a Canadian-based approach to corporate governance.

The Directors College, the first of its kind in Canada, will provide practically oriented corporate governance education to directors currently serving on the boards of Canadian corporations and prospective candidates for directorships.

“Our program will not only cover the 'mechanics' of being a competent director, but will also focus on the principles of being a director who is constructively involved in defining the role of his or her company in Canadian society,” said Vishwanath Baba, dean of the Michael G. DeGroote School of Business.

“This initiative builds on the Conference Board's six years of experience in delivering director education and 30 years of researching the practices and principles in corporate governance,” said Mark Schacter, director of Governance and Corporate Social Responsibility for the Conference Board. “Our conversations with corporate executives and our members make it clear that the need for this program is urgent.”

Elliot Schreiber, industry professor, marketing & reputation management, said the partnership is another example of innovation, a hallmark of McMaster's culture. “The School of Business will contribute significant start-up funds and expertise in key areas of corporate governance, including accounting and financial management and disclosure. In addition, we have leading experts in the creation and development of high performance boards, including brand and reputation management, executive evaluation, organizational development, and knowledge management.”

The vision of the two partners is to establish a program uniquely tailored to Canadian business and culture. Its intention is to promote professional standards for directors that companies will be proud to support and shareholders will come to expect of their boards.

Participants who successfully complete the curriculum will obtain an accredited Chartered Director designation. Stand-alone shorter courses that do not lead to designation will also be available.

The faculty of The Directors College will include specialists from the corporate, legal and academic sectors. Subjects to be covered in the curriculum include compliance, liability, ethics, auditing and internal control, compensation, and organizational behaviour. The college is scheduled to begin on a pilot basis in the fall of 2003. Elliot Schreiber will lead the Michael G. DeGroote School of Business' participation in the partnership, and Mark Schacter will lead the Conference Board's involvement.

The partnership between the Michael G. DeGroote School of Business and the Conference Board is non-exclusive, and discussions are underway with other potential participants in this national initiative.