By Daniel Hunter

The Institute of Directors (IoD) today (Wednesday) announces the formation of the Global Network of Director Institutes (GNDI), an international partnership between nine leading membership organisations for company directors in Australia, Brazil, Canada, Europe, Malaysia, New Zealand, South Africa, the United Kingdom, and the United States.

At a December 12, 2012, meeting in Wellington, New Zealand, GNDI delegates approved terms of reference and elected leaders by unanimous vote. John Colvin, CEO and managing director of the Australian Institute of Company Directors (AICD), will serve as chairman; Stan Magidson, president and CEO of the Institute of Corporate Directors (ICD) in Canada, will serve as deputy chairman.

The GNDI will complement the work of its member organisations by fostering close cooperation between national director organisations and providing a global forum to share experiences, case studies, leading practices and current or emerging corporate governance issues affecting the boardroom and its stakeholders.

“Business is global, and issues like corporate governance and the future of capitalism cut across national boundaries," Simon Walker, Director General of the IoD, and representative at the GNDI, said.

"The GNDI brings together the leading associations from around the world to provide a global voice and sharpen leading practices for boardroom leaders. British businesses work with their counterparts around the world every day to strike deals and grow the economy — it is high time that the bodies developing best practice did the same.”

GNDI members will collaborate to:

· Anticipate and explore emerging issues having global impacts on corporate governance;

· Develop and promote leading practices and programs that enhance the ability of corporate directors to ensure long-term, sustainable performance for the benefit of shareholders and other stakeholders;

· Educate key influencers regarding the benefits and values of exemplary leadership in the boardroom; and

· Amplify the voices and perspectives of corporate directors on matters related to boardroom leadership.

The founding member institutes of the GNDI, which collectively represent more than 100,000 corporate directors worldwide, are:

· Australian Institute of Company Directors (AICD),

· Brazilian Institute of Corporate Governance (IBGC) in Brazil

· European Confederation of Directors Associations (ecoDa)

· Institute of Corporate Directors (ICD) in Canada,

· Institute of Directors in New Zealand (IoDNZ),

· Institute of Directors in Southern Africa (IoDSA),

· Institute of Directors (IoD) in the United Kingdom,

· Malaysian Alliance of Corporate Directors (MACD), and

· National Association of Corporate Directors (NACD) in the United States.

Each founding GNDI member will appoint one executive from its organisation to participate on the Executive Committee tasked with the management and control of the affairs of GNDI.

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