IFC Managers Receive Awards for Leadership in Corporate Governance

November 14, 2011 --Two prominent corporate governance organizations have presented awards to IFC managers, recognizing their leadership in improving corporate governance in emerging markets.

The National Association of Corporate Directors (NACD) recently named Corporate Governance Unit Manager Darrin Hartzler one of the 100 most influential people in the boardroom and corporate governance community.

The annual list is “an honor bestowed not so much by NACD Directorship, but by the collective wisdom of the boardroom community,” said the Washington-based nonprofit organization, whose mission is to advance exemplary board leadership for directors.

Philip Armstrong, head of the Global Corporate Governance Forum, has been selected for the 2012 Marcos E. J. Bertin Quality in Governance Medal. The International Academy for Quality, which awarded the medal, is recognized as one of the most important discussion forums on corporate governance quality.

“I share this honor with the Forum’s many partners and donors worldwide who are united in their commitment to advancing corporate governance," Armstrong said. "We have developed a network of some 5,000 practitioners and institutions that are developing corporate governance codes, enhancing board leadership skills, training business media, and introducing innovations like corporate governance dispute resolution practices. It is their inspiration that this award commends."

For Hartzler, the award represents a recognition of IFC’s success in raising the bar for corporate governance and making it an integral part of sustainable economic development.

“IFC has more than a decade of experience developing and implementing corporate governance projects around the world,” Hartzler said. “We are recognized as the leader among development finance institutions in bringing about lasting corporate governance improvements in the countries and regions where we work. Our efforts are making a real difference in the ways companies are run, which is critical for sustainable private sector development. Ultimately, well-governed companies are good for people and communities.”

Good corporate governance helps companies operate more efficiently, improve access to capital, and safeguard against corruption and mismanagement. It makes companies more accountable and transparent to investors and enables them to respond to legitimate stakeholder concerns.

In fiscal year 2011, IFC provided full Corporate Governance Assessments to 33 debt and equity investment clients. Our advisory projects work with companies, regulators, journalists and educators in over 60 countries, and have facilitated over $1.8 billion in new investment.