Our Bureau
Mumbai
The Board Stewardship Global Corporate Governance Summit 2025 opened on Wednesday, December 3, at the historic Bombay Stock Exchange (BSE) with more than 400 board leaders, independent directors, regulators and governance experts in attendance. The two-day gathering also honored Dr. Ram Charan as a Global Board Legend, recognizing his decades of influence on boardroom practice in India and around the world. Day One, themed “Reimagining the Future Board,” set a forward-looking tone for the summit taking place on 2–3 December.
Opening the proceedings, Vikesh Wallia, Managing Director & Editor, Board Stewardship, emphasized the platform’s growing reach across newsletters, magazines, books and nationwide events. “We are delighted with the record turnout this year, with more than 400 registrations for our conference at the Bombay Stock Exchange,” he said, highlighting the past year’s expansion. “Our new Co-Elevate training program has also filled a critical gap by moving beyond compliance and preparing professionals for real board responsibilities. This two-day conference comes at an important time as boardrooms adapt to global governance shifts and rising expectations around digital readiness.”
In his Inaugural Address, G. N. Bajpai, Former Chairman of SEBI & LIC, underscored that corporations operate within five dominant forces — sociology, politics, economics, technology and climate. “A corporate never operates in isolation; even the most remote enterprise is influenced by global developments,” he said, noting how post-COVID cultural shifts, transactional geopolitics, and emerging information, bio and cosmic economies are reshaping the operating environment. “The habitability of Earth is under pressure, raising urgent questions about apathy toward climate risks.”
Delivering the Keynote Address, Shailesh Haribhakti, Chartered Accountant, Board Icon and Chairman Advisory Board, Board Stewardship, said boards are entering an era defined by volatility and interconnected risks. “The future board will not be remembered for minutes but for the future it shapes,” he said, urging directors to rethink static agendas. Boards, he argued, must become “execution stewards and civilizational advocates” capable of navigating climate transitions, demographic shifts, AI, geopolitics and fragile supply chains.
In her Special Address, Kamala Kantharaj, Chief Regulatory Officer, BSE, reflected on the exchange’s 150-year legacy. “The Bombay Stock Exchange has recently completed 150 years, a landmark that reflects how strong structures and good governance can sustain an institution through changing times,” she said. She added that India’s 2047 Viksit Bharat goal demands strong governance as organizations accelerate into a phase of rapid growth and uncertainty.
A spotlight session with Rajeev Peshawaria, CEO, Stewardship Asia Centre, Singapore, sharpened the debate on ESG. “ESG as it was practiced is dead—but long live E, S, and G,” he said, arguing that businesses thrive when they create profitable solutions to human and social challenges. “The future is doing well by doing good,” he said.
A fireside chat with Dr. Ram Charan — who also received the summit’s highest honor — reinforced India’s accelerating economic momentum. “India is on fire,” he said. “Nowhere else in the world do I see this level of optimism, growth drivers and confidence. Many companies are programming themselves for 10x growth, and boards must match that ambition.”
Charan also spoke about being recognized as a Global Board Legend. “I had the privilege of being honored with a Lifetime Achievement Award in Board Stewardship and recognized as a ‘Global Board Legend’ at the Board Stewardship Summit Global Corporate Governance Summit 2025, held at the Bombay Stock Exchange,” he said. Accepting the honor, he noted: “I accept this recognition with humility. It truly belongs to the many chairs, board members, CEOs and governance professionals I have worked with across the world over the last five decades. They are the ones doing the hard work of aligning governance, strategy and execution to create enduring institutions.”
He stressed that robust boards require far more than procedural oversight. “Strong boards are not about compliance alone. They are about courage, clarity and stewardship — asking the right questions, taking difficult decisions in the long-term interest of shareholders, employees, customers and society,” he said. Charan added, “My commitment remains the same: to help boards become sharper in judgement, faster in execution and stronger in character. Thank you to Board Stewardship and the distinguished jury for this honor.”
Offering a complementary perspective on leadership, Ravi Kant, Former Managing Director & Vice Chairman, Tata Motors, said disruption is forcing new behaviors. Citing research linking leadership traits to AI success, he noted: “The leaders who make AI work are humble, open-minded team players who build trust, collaborate, and pursue big goals with an outside-in view.”
The afternoon also featured a session on future-fit board composition with Dr. Pramod Solanki, Anita Shantaram, Alessandro Giuliani and Rakesh R. Sony, followed by the release of The Digital Board Member white paper authored by Mita Dixit, Manish Varghese, Amit Narayan, Vikesh Wallia and Raajeev B. Batra. A panel on Digital Personal Data Protection (DPDP) brought together Ritesh Bhatia, Uday Bhansali, Ketan Dalal and Anand Desai for a detailed look at evolving data governance responsibilities.
The day concluded with a Board Stewardship felicitation ceremony. Wrapping up the proceedings, Raajeev B. Batra, Fellow, Board Stewardship, stressed the need for boards to deepen stewardship, strengthen digital readiness, reinforce ethical culture and sharpen leadership clarity as India enters an era of accelerated growth and heightened global uncertainty.
