A Historic Milestone for Corporate Governance in Romania
Romania has reached a historic turning point in its journey to elevate corporate governance to international standards. This was the focus of a recent episode of “Academia de Guvernanță”, a project developed by Envisia – Boards of Elite in partnership with Profit.ro, where Dr. Gabriela Hârțescu, Dean and Founding Member Envisia, and Conf. Univ. Dr. Mihai Olariu, President of the Senate at the Romanian-American University, discussed the launch of the country’s first accredited postgraduate program in corporate governance.
Envisia – Boards of Elite, together with the Romanian-American University, has launched “Corporate Governance that Creates Value”, a pioneering academic program accredited by the Ministry of Education and the National Authority for Qualifications. This marks a significant milestone not just for Romania’s academic landscape, but also for its growing alignment with international governance best practices. “This partnership takes our educational efforts to a higher level,” Dr. Hârțescu noted, emphasizing how the program builds on four years of experience running the professional version of this governance program in collaboration with the Bucharest Stock Exchange.
“This program is more than just an academic offering,” said Mihai Olariu. “It guarantees a set of high-quality specialized knowledge that is immediately relevant for board members, executives, and governance professionals.” Indeed, the program is tailored for a diverse audience: board members and supervisory board members, C-suite executives, entrepreneurs, consultants, investors, and senior-level professionals who interact directly with boards.
Structured to blend theory and practice, the program covers a wide range of topics, including fiduciary and legal responsibilities, committee roles, stakeholder management, strategic risk oversight, and the essential qualities of successful board members. “You don’t necessarily have to be a board member to enroll, but you must have relevant experience working with boards. It’s about continuous learning and staying ready for what’s next,” Dr. Hârțescu emphasized.
The timing of this program’s launch is significant. Romania has recently received a positive assessment from the OECD Governance Committee—an important step in the country’s OECD accession process, which underscores the need for stronger corporate governance. Dr. Hârțescu highlighted how good governance practices can boost not only the performance of individual companies, but also the broader economy. “Effective governance contributes to economic stability, reduces the potential for financial crises, and fosters a clearer, fairer regulatory environment,” she said.
Beyond the organizational level, Dr. Hârțescu underscored the wider societal impact of strong governance, including fighting corruption and supporting sustainable development. “Romania’s accession to the OECD will bring concrete benefits: better financing conditions, more foreign investment—especially greenfield investments—and a more competitive economy,” she said. “It’s a moment of prosperity, with state-owned enterprises also expected to embrace modern governance practices.”
Mihai Olariu concluded that this program is an opportunity for professionals to future-proof their careers. “When you complete a program like this, you gain not just a certification, but a toolkit of skills and knowledge that prepare you for board roles and other top professional challenges,” he said. With over 34 years of academic excellence, the Romanian-American University is a trusted partner in this initiative, while Envisia’s growing community of board members and leaders ensures that graduates of this program will join an exclusive network dedicated to ethical, high-impact governance.
Follow the entire discussion HERE.
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