And for a Friday in Mumbai, after an endearing farewell from the HDFC Life Board, some thoughts….. some musings…..
All good things have to come to an end. So also my ten years on the Board of HDFC Life and I bid adieu to all my fellow Board members, the Company Management and staff. As per current Company Laws, every Independent Director (ID) must step down from the Board after two five year terms are over. No more extensions. It’s a very welcome and good governance practice. After all the role of an ID is to ensure the highest standards of Good Governance is exercised and the Listed Entity is managed and run on a sustainable basis for the welfare and good of all stakeholders; which means it’s not just the shareholders or the capital, but also the employees, customers, vendors, suppliers, the neighbourhood and society at large. It is this principle of equitable sustainable growth which is envisaged in the ESG principles and value systems mandated by the listing agreements of SEBI and the Company Laws.
Having been involved with Corporate India for almost five decades, its a great privilege to receive the “Silver Salver” whilst retiring from your own company or from Boards after the tenure is over. But yesterday was a double privilege for me, since it was not just me, but my senior corporate colleague, close friend, guiding philosopher and India’s corporate ikon Deepak Parekh who too retired from the Board. What an honour and rare privilege to share the same platform and partake of the love and affection of the company staff. I can do no better than quote from Deepak’s letter to the Board. “I have been fortunate to witness remarkable achievements and alliances and leave with the confidence that HDFC Life will remain in strong, responsible and ethical hands, true to the culture of service with integrity.”
Every stage in life is as good to dedicate to the common good. Let’s continue to help build our Nation, the responsible way, the ethical way, the SEEGOS way.