Private sector signs MoU with regional corporate governance body

Ramesh Dookhoo (left), Corporate Coordinator of the Private Sector Commission of Guyana and the Chief Executive Officer of the Caribbean Corporate Governance Institute, Denise Deonarine shake hands after executing the MOU.

The Private Sector Commission (PSC) of Guyana and the Caribbean Corporate Gover-nance Institute signed a  Memorandum of Understanding (“MoU”) on Monday 9th April, 2018 at the Hyatt Regency Trinidad, Port of Spain.

A release from the PSC yesterday said that the purpose of the agreement is to use the complementary objectives of both entities to foster exemplary models of corporate governance in Guyana.

Officials present to sign the MoU included  Ramesh Dookhoo, Corporate Coordinator of the PSC and the Chief Executive Officer of the Caribbean Corporate Governance Institute,  Denise Deonarine. 

The Caribbean Corporate Governance Institute is a membership based organisation for governance professionals. It is headquartered in Trinidad. The release said that it is a not for profit company that is self-funded. Established in 2012, the release said the Institute “aspires to enhance the professional standard in all boardrooms in the Caribbean”. To this end, the Institute focuses on executive education and professional programmes, co-authoring standards and guides and advocacy. The release said that the Institute has co-authored the Trinidad and Tobago, Corporate Governance Code and has hosted corporate governance events that focussed on Family Owned Governance, among other events.

Dookhoo said “Fostering an even greater regard for corporate governance in practice in both the private and public sector in Guyana is critical given our commercial trajectory and the expectations of international bodies.”

Deonarine added that “organisational leaders on boards have a statutory and fiduciary responsibility to act in the best interest of the company’s they serve, and the third-party resources entrusted in their care. Corporate Governance should be a core pillar of any serious-minded organisation because it assists boards and executives alike with defining how to go about achieving this in a value-added manner”.

The PSC and the Institute will be expressing its partnership this year with a series of joint corporate governance events. This includes its inaugural breakfast seminar on May 23, 2018 at the Guyana Marriott Hotel, Georgetown from 7:00am to 11:30am.

In July, 2018 both entities will host a full-day corporate governance seminar dedicated to Family Owned Businesses with a focus on Succession Planning.

Interested parties can contact the Private Sector Commission via telephone at +592-225-0977 or email at office@psc.org.gy. Registration can be done online at ww.caribbeangovernance.org under the events tab.

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