Faculty
Adrian Codirlașu, PhD, CFA
Vice-President of CFA Romania and AAFBR, Member of ACI Romania
Adriana Lobdă, MABPD, FCCA
Founding member, Envisia – Boards of Elite
Andrew Kakabadse
Chairman of the Board of Directors of Envisia – Boards of Elite, President of the Director Forum Henley Business School, member of Thinkers50
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Gabriela Hârțescu, PhD
Dean, Member of The Board, Envisia – Boards of Elite
Carmen Micu, EMBA, MABPD, MEng
Founding member and CEO, Envisia Boards of Elite | Chair of the Board IASE Global
Chris Ansell, CFA
International Consultant, Visiting Fellow Cranfield University
Mirela Păunescu, Phd, FCCA, CIA
Consultant
Mihai Purcărea, CFA
CEO & President of the Board of BRD Asset Management, Member in AAF Board of Directors, Board Member of CFA Society Romania
Narcisa Oprea
Program Coordinator "Corporate Governance That Creates Value", Envisia – Boards of Elite; Partner - Schoenherr
Flavia Popa
Secretary General, BRD – Groupe Societe Generale
Radu Hanga
Chairman of the Board of Directors, Bucharest Stock Exchange
Diana Stafie
Foresight Strategist, Founder of Future Station
Simona Pirtea
Managing Partner, Pirtea si Asoc.
James MacGregor, PhD
Sustainability Leader, International Consultant
Stefan Bucataru, ICD.D, CMC, MBA
Corporate Director, Veldtster Management and Consulting
Aurelia Costache
AI & Data Leader, EY in Romania
Vlad Obreja
Head of Public Affairs, ARIR and VERTIK Group
Course Outline
INTRODUCTION: PRIORITIES ON THE BOARD AGENDA (CA)
CHAPTER I: ROLES AND RESPONSIBILITIES OF GOVERNANCE STRUCTURES
1. Legal framework and governance structures
- Board types and member categories
- Roles and responsibilities of Board members - individual and collective
- Advisory Boards - benefits for companies
2. Board Committees: specific roles and responsabilities
- Processes and working procedures
- Nomination and remuneration committee
- Audit Committee
3. General Secretary - role and attributions
4. Responsibilities and liabilities
- Delegation of authority process
- Legal civil liability insurance of managers (D&O Policy)
5. Remuneration
- Remuneration policy
- Remuneration long term plan (Stock Option Plan - SOP)
CHAPTER II: BOARD RESPONSIBILITIES REGARDING REPORTING AND INTERESTED PARTIES MANAGEMENT
1. Financial reporting for listed companies and Board responsibilities
2. Board responsibilities according to the EU regulations and directives (CSRD, DueDiligence) and ISO 37000
3. Privileded information and market abuse
4. Investors' relations - how we tell our story
CHAPTER III: STRATEGY
1. Risk Management
- Enterprise Risk Management (ERM) and Strategic Risk
- Governance Models ISO 31000 vs COSO
- Risk identification, evaluation and mitigation models
- Value creation mitigation models
2. Key Financial Decisions for Boards
- Financial performance
3. Sustainability and ESG Strategy
- Principles of sustainable development
- Good governance - ESG implementation imperative
4. Digital Transformation
- Debating session for case studies
5. Company listing as a strategic option. Stages of the listing process.
- Listing strategies for companies
- Analysis of the capital market in Romania
6. Value Creation
- The Role of the Supervisory Board / Board in Creating and Developing the Strategy
- Responsibilities of the Board in relation to company strategy: Broadening the Oversight Strategy
- Creating Strategic Options: Foresight and Long Term Value Creation.
7. Debating Session for Case Studies
CHAPTER IV: BOARD / SUPERVISORY BOARD DYNAMICS AND ACTIVITY
1. Evaluation of Board / Supervisory Board activity and performance - attitude, behavior and competences
2. Relationship between the Board abd the CEO
CHAPTER V: BUILDING A FIRST RATE BOARD CANDIDATE PROFILE
1. Ideal candidate; Interview preparation
2. Assessment of the Board and Executive Team
3. Succession Plan at Board level
Total number of hours in the program: 50
Assesment Process
The final evaluation of the program consists of a simulated board meeting: an exam and a project.
The evaluation committee will include the academic representative/course holder from the Romanian-American University along with 3–5 board members from Envisia – Business School, the Bucharest Stock Exchange, and other relevant institutions and authorities.
Evaluation session date: September 26, 2025
Course & assesment timeline
Attendance requirements
- In-person sessions: May 29–30; June 19–20; September 10–12, 2025 (hours: 9:00 AM – 6:00 PM)
- Minimum attendance requirement: 85%
Successful completion of the program "Corporate Governance that Creates Value" (officially accredited as "Corporate Governance in Practice") results in the awarding of a postgraduate certificate and 6 ECTS credits, according to the European Credit Transfer and Accumulation System (ECTS) for higher education.
Graduation Ceremony: October 23, 2025
Application Process
Entry requirements
- Completed enrollment form
- Copy of identity card
- Copy of birth certificate
- Copy of marriage certificate/official document for name change (if applicable)
- Copy of bachelor's degree or equivalent/graduation diploma
- Copy of academic transcript/diploma supplement
- Medical certificate
- CV
- Experience as a board member or at least 3 years of experience in a leadership position
- Access to real corporate governance cases
- A recommendation from the executive leadership or a member of the board of directors
Enrolment process outline
- Registrations are made on the Romanian-American University’s website, on the dedicated page.
Timeline
- Enrolment closing period: 26th May 2025
- Start of the Programme: 29th May 2025
About course
The postgraduate program "Corporate Governance that Creates Value" enhances the knowledge and understanding of corporate governance practices and the role of a board member, both in national and international contexts.
Why join?
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Join a community of strategic leaders, highly qualified professionals, and board members from the business and financial services sectors, both public and private.
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Gain access to an elite Center of Expertise that supports professional excellence and personal development.
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Learn from experts. Our faculty is made up of recognized leaders, experts, and practitioners in corporate governance and strategic leadership.
Who should join?
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Board members in listed companies, companies aiming to access the capital market, other capital market participants, and actors in the broader economic ecosystem, from both the public and private sectors
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Executive leadership representatives: Chief Executive Officers, Chief Financial Officers, Chief Operating Officers, etc., and any leadership role that interacts with the board of directors
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Members of Advisory Boards
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Entrepreneurs
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Investors
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Corporate Secretaries of Boards of Directors
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Professionals and consultants who work with boards or aspire to become board members: financial analysts, lawyers, tax experts
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Board members seeking to update their knowledge and stay informed about national and global trends essential for fulfilling their board mandate
Stories
The Effective Boards Director Programme helped me understand the mechanisms of an accelerated and responsible development of a company and implicitly of the leader in me.
Dr. Anca Mitu
Non-executive member of the board of directors Transgaz
The Effective Boards Director Programme is part of BVB’s strategy to support education for the local capital market stakeholders.
Radu Hanga
President BVB
SUBMISSIONS CLOSING 26th May 2025
