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Infosys chief calls for training independent board director

Infosys chief N R Narayana Murthy on Monday underlined the need for imparting training to independent directors before they were taken on the board of a company.

Addressing a round table conference on Corporate Governance organised by the Confederation of Indian Industry in Mumbai, he said that independent directors must be well informed about their role in the company board and for this a brief training, at least for two days, should be given to them to make them understand the business model, risk environment and the objectives of the company.

Similarly, auditors and other advisors to the board should exercise their independent views in governing the board function.

''They should understand the strategic profile of the company,'' he said. He also said that independent directors on the board must assess themselves in respect to the contribution to the company.

''These are all beyond the benchmark rating of corporate governance and come automatically through ones ethical values,'' he said.

The ratio of compensation of the employees with respect to their position should be performance-based with all fairness and transparency, he added.

UNI

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