MentorMyBoard is set to host the 3rd Women Directors Conclave and Awards 2023 on December 15th at the Bombay Stock Exchange. They plan to celebrate and recognise the contributions of women leaders in Indian corporate governance. The event underscores the importance of empowering and upskilling women directors to foster performance-driven boardrooms.
In the context of Nifty-500 companies in India, statistics reveal that one in five board members is a woman. While the Companies Act of 2013 mandates having at least one woman director on boards, MentorMyBoard's founders, Divya Momaya and Neha Shah, stress the significance of ongoing efforts to overcome challenges faced by women leaders.
Divya Momaya highlights the progress made but points out persisting challenges such as limited access to boardrooms and the absence of adequate upskilling platforms. The Women Directors Conclave, therefore, seeks to initiate essential conversations on inclusive leadership, encouraging dialogue around the need for a more diverse and performance-oriented approach in boardrooms.
Neha Shah, Co-Founder of MentorMyBoard, emphasizes the necessity of building robust boardrooms that go beyond meeting legal mandates to actively drive efficiency and performance. In the face of current geopolitical volatility in global business, leveraging the complete potential of human assets, including women directors, becomes imperative for economic progress.
The conclave aligns with the Government of India's vision to achieve a $5 trillion economy, recognizing the pivotal role of women directors as strong pillars in the futuristic boards of India. This vision requires a strategic focus on overcoming challenges and harnessing the brilliance of women leaders.
The importance of MentorMyBoard's role in mentoring aspiring women directors was underscored by Finance Minister Nirmala Sitharaman during the 2022 Women Directors Conclave. She commended the platform for its initiative in supporting and guiding women to navigate roles in traditionally male-dominated boardrooms.
By doing so, MentorMyBoard not only contributes to building stronger and more diverse boards but also helps capable women overcome the threshold of hesitation that holds them back.
The Women Directors Conclave is not merely an awards ceremony. It is a comprehensive initiative addressing the multifaceted challenges women directors encounter. These challenges range from limited access to boardrooms to the need for effective upskilling platforms.
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