IFC Global Corporate Governance Forum Publication Shows How Mediation Can Resolve Conflicts
According to a publication released today by the IFC Global Corporate Governance Forum, developing mediation to resolve board disputes is a critical component of good corporate governance practices. Mediation will help companies resolve conflicts that can undermine their performance, divert resources, and paralyze decision making.
The publication, Mediating Corporate Governance Conflicts and Disputes, outlines how mediation can help settle corporate governance-related disputes in ways that are far less costly and quicker to resolve than litigation. It is available online at www.gcgf.org.
“Board disputes must be resolved efficiently. Mediation and other alternative dispute resolution mechanisms are a way of doing so,” said Mervyn E. King, a member of the forum’s Private Sector Advisory Group and leading corporate governance expert. “It is vital that such mechanisms exist to help resolve disputes in a timeframe that businesses can live with.”
“Consensus-based alternatives to adjudication can contribute to improving corporate governance practices, strengthening investor confidence, supporting business continuity, and reducing the costs resulting from disputes,” write the authors, Eric M. Runesson, a partner at Sandart & Partners, and Marie-Laurence Guy, task team leader for the IFC Global Corporate Governance Forum.
The publication reviews corporate governance conflicts and considers the main characteristics, benefits, and obstacles of mediation. It also makes recommendations for introducing mediation into companies’ practices.
“By focusing on interests as opposed to positions, by looking at the future rather than the past, and by promoting open discussion, mediation gives companies a management tool that can greatly improve the quality of board meetings,” the authors said.
This news content was configured by WebWire editorial staff. Linking is permitted.
News Release Distribution and Press Release Distribution Services Provided by WebWire.