Ghanaian legal practitioner, Robert Nii Arday Clegg has for years written extensively on the issues of good governance.
Desiring to make a difference in the area of corporate governance as a result of modern and international trends, Arday Clegg authored his latest book to tackle the issue.
‘Corporate Governance: The Boardroom, The Bottom Line & Beyond’ by Arday Clegg was launched this month in Ghana’s capital Accra.
The book is currently on sale and the author is hopeful it will significantly help address issues that many have with properly system of running an organization.
It was graced by many prominent Africans who have succeeded in their fields of endevours including Sam Esson Jonah KBE, OSG who wrote the forward of the book.
Reviews
Dr. Ernest Addison, Governor of the Bank of Ghana said about the book that it “provides key explanations …to enlighten practising directors and corporate lawyers on modern and international trends in their…work.
I personally admire how the author skillfully and seamlessly combines three broad subject areas: law, finance and history to make a strong case for modern corporate lawyers to be specialists in finance; for boards of directors to be knowledgeable in finance and law; and for students to be futuristic in their career planning…
[T]his publication has all the necessary ingredients to support the central bank’s agenda to strengthen corporate governance structures and practices across all segments of the banking industry in Ghana.”
Sam Jonah KBE,OSG was the Chairman for the occasion pic.twitter.com/O2s3yNAwJc
— R. Nii Arday Clegg (@RNiiArdayClegg) December 13, 2019
Kwabena Osei-Boateng, Chairman, IC Asset Managers (Ghana) Limited; Member, Oxford University Alumni Board also said about the book that it is “a superb, masterful and much-needed contribution to a critically important subject. Robert Nii Arday Clegg’s meticulously researched and expertly delivered work is groundbreaking in the Ghanaian context.
It is a must-read for any professional who is serious about truly understanding the nuances inherent in the concept of corporate governance and the principal elements of a director’s fiduciary duties.
Corporate Governance: The Boardroom, The Bottom Line & Beyond could not have been written at a more propitious time. It inspires an enlightened perspective that will produce corporate governance cognoscenti in the classrooms and boardrooms of Ghana for a very long time.”
Clegg’s arguments
The 215 page has come at an appropriate time after Ghana in the past 12 months witnessed a major crisis in its financial sector.
Licences of many locally formed banks had to be revoked for being poorly managed, largely because of bad corporate governance.
Arday Clegg argued in the book that “even in the U.S. owing to the financial crises of 2000 and later 2008-09 there have been vociferous calls for separating the role of the CEO from the chairman.
As a consequence, “organizations that rate the quality of pubic company governance give higher grades to companies that separate the position”.
He further wrote that “supporters of the split roles do not advocate a mere split. They demand that the board chairman should be an independent and non-executive (and preferably uninterested) director.
This true independence is necessary “to meet the independence guidelines of Sarbanes-Oxley, which means that CEOs who move into the chair position upon retirement would not be considered legitimate independent leaders of the board”.
Source: Africafeeds.com
