Independent Directors Association joins The European Confederation of Directors Associations (ecoDa)
Bucharest, 29 May 2018. The Independent Directors Association (AAI) has been accepted as full member in ecoDa - The European Confederation of Directors Associations - the European platform that promotes the corporate governance best practices and also represents the boards of directors.
A sole association in each country can be an ecoDa member, and through this affiliation AAI becomes Romania’s representative in this prestigious pan-European organization which gathers the sound corporate governance associations in Europe. At the same time, ecoDa is an important actor within the relationship with the relevant European regulators and permanently seeks for improving the corporate governance standards.
By accession to ecoDa, AAI will actively participate to the corporate governance debate in Europe and will stay updated with the current trends in this domain, among which: sustainability, cyber security, artificial intelligence, decision making science applied to company administration.
Moreover, ecoDa membership offers AAI members the possibility to be members of other related associations in Europe without additional costs.
Sorana Baciu, AAI President stated: “We are very honored and proud at the same time that AAI has been accepted as full member in ecoDa. This affiliation will offer AAI members the possibility to join the large European community of corporate governance specialists and will bring added value to the Confederation’s best practices by sharing the local expertise. We trust that together with our European partners we will contribute to Romanian companies’ profitability increase and sustainable development on medium and long term.”
The debates upon corporate governance are at the beginning in Romania, and its benefits are not yet completely understood by companies’ management, shareholders and other interested parties.
The corporate governance is not an abstract or theoretical concept. It represents the relations of a company with all interested parties as a whole: shareholders, management, employees, banks. It regulates the distribution of rights and responsibilities among the different categories of interested parties involved in a company. At the same time, it is the frame through which the company’s objectives are set up, as well as the means for their achievement and to monitor the directors’ performance indicators.
The implementing of corporate governance principles brings important benefits to companies, such as: reputation improvement, increase of trust in the company and new investors attracting, easier access to financing and reducing of financing costs, company value and its shares’ price increase on medium and long term, with positive impact for the capital market and the whole economy.
AAI Secretary General
Mobil +40 745 393600
About AAI: The Independent Directors Associations (AAI) is a professional association whose mission is to promote corporate governance for business excellency.
AAI aims at contributing to the boards of directors’ professional standards improvement for the development and value increase of the Romanian companies. For more details please access this link: https://www.administratorindependent.ro/
About ecoDa: The European Confederation of Directors Associations (ecoDa) is a non-profit association founded in December 2004 under the laws of Belgium. Through its national institutes of directors (the leading national institutes in Europe), ecoDa represents approximately 55,000 board directors from across the EU. The member organisations of ecoDa represent board directors from the largest public companies to the smallest private firms, both listed and unlisted. For more details, please access this link: http://www.ecoda.org