Board committees: The board's engine room

The business of business is no longer only profit maximisation. It has been redefined to focus on generating value not just for shareholders but for all stakeholders, promoting the long-term sustainable success of the company, and contributing to society. Business is now more complex. Digital transformation, cybersecurity, artificial intelligence, recruitment and retention, climate change, geopolitics are just some of the more recent issues that boards need to address. Boards deal with this evolving and ever-expanding list through board committees that allow for enhanced decision-making. Some are for monitoring (audit committee) and others for advising (technology committee), ensuring that firms are well served.

- AMIT TANDON