IoDSA launches Chartered Director (SA) designation

The Institute of Directors in Southern Africa (IoDSA) launched the Chartered Director (South Africa) designation at a function at its Sandton offices last night. At the function, the body appointed by the IoDSA Board to govern the criteria and process for Chartered Director awarded the designation, also known as CD (SA), to a select group of leading business luminaries. Among the recipients were Roy Andersen, Tom Boardman, Michael Brown, Judy Dlamini, Thulani Gcabashe, Godfrey Gomwe, Reuel Khoza, Mervyn King, Mark Lamberti, Tito Mboweni, Imogen Mkhize, Mutle Mogase, Allen Morgan, Wiseman Nkuhlu, Sizwe Nxasana, Hixonia Nyasulu, Gloria Serobe, and Malcolm Wymann.

"By accepting our invitation to become Chartered Directors on the basis of their achievements and standing, these men and women are acting as pioneers and role models for aspirant professional non-executive directors,” comments Ansie Ramalho, CEO of the IoDSA. "Aside from these by-invitation holders of the new designation, candidates will undergo a rigorous selection process.

Similar designations for directors have already been established in Australia, Canada, New Zealand and the United Kingdom.

Speaking at the function, Richard Foster, Chairman of the IoDSA, said that the new designation had the potential to change the face of directorship as a profession in South Africa. The keynote speaker, Nicky Newton-King, CEO of the Johannesburg Stock Exchange, echoed this statement, saying that in today’s complex world, companies could no longer be passive bystanders and their directors needed a growing range of skills. Instead of attempting to regulate directors' duties in minute detail, there should rather be an emphasis on ensuring competency. Ms Newton-King emphasised the impact that the new designation with its transparent criteria would have on transformation. "As we grow as a country, we will need a growing pool of directors—this designation will help increase the pipeline,” she said.

"The role that non-executive directors play have become central to business success,” observes Roy Andersen, Chairman of the CD(SA) Governing Body. "In line with their expanded responsibilities, directors have also assumed greater liability for the consequences of their decisions. These developments have all contributed to the emergence of company directorship as a distinct profession requiring certain skills.”

In fact, says Ms Ramalho, the stereotype of the retired executive taking up directorships is gradually changing as younger people begin to see directorship as a career path in itself. The new CD (SA) designation will provide these emerging professionals with a way of demonstrating that they meet a certain standard of knowledge and experience, and that they are committed to continuing professional development to maintain that standard. Holders of the CD (SA) designation will also have to adhere to a code of professional conduct and submit to the organisation’s disciplinary procedures.

To apply for admission as a CD (SA), candidates must first have their skills evaluated against the Director Competency Matrix created by the IoDSA. If they meet these criteria, they then write an examination and submit to a peer review as specified by the CD (SA) governing body. (Experience may exempt certain candidates from the need to sit the examination.)

Annually, Chartered Directors need to affirm that they are practicing as directors, renew their membership of the IoDSA, log at least 30 hours of continuing professional development and reaffirm their subscription to the code of conduct.

For full information on the Chartered Director (SA) designation, including admission criteria and code of conduct, please visit www.iodsa.co.za.