Corporate governance was a matter of vital significance at Sanmar long before it entered contemporary business English as a buzzword. The highest levels of good governance, objectivity and transparency in the management process have always marked the group’s management philosophy. It has a published code of ethics and insists on strict adherence to it by all its people.
In its constant quest for ways of ensuring the separation of ownership from the operational management of the group’s businesses, Sanmar has struck several successful initiatives over the years. One of the latest has been the constitution of the Sanmar Group Corporate Board, which includes eminent people of varied backgrounds. All members of the group’s owner family—N Sankar, N Kumar and Vijay Sankar—have stepped off the boards of all the operating companies. Their management now vests fully with the professional managing directors the group appointed a few years ago, assisted by competent professional senior management teams. The members of the family will operate only at the Sanmar Group level. The Sanmar Group Corporate Board, which is being empowered to oversee the activities of all the constituents of the group in terms of their performance policies, plans and
future strategies, and ensure adherence to the highest standards of corporate governance and ethical conduct, will meet at least four times a year. V Narayanan will head the audit committee of the Board. The considerable knowledge and experience of the outside directors are expected to be of great value to the group, in its current operations and future growth. The first meeting of the Group Corporate Board was held on 1st December 2004.
Group Corporate Board members on a visit to ProCitius Research, Perungudi, the chemistry research division of Sanmar Speciality Chemicals (SSCL). From L to R: Dr Sankara Subramanian of SSCL, P N Kapadia (with back to camera), V Narayanan, N Sankar, VijaySankar, Preety Kumar and P S Jayaraman.
The Sanmar Group Corporate Board
N Sankar, Chairman
N Kumar, Vice Chairman
Vijay Sankar, Director
MN Radhakrishnan (Chairman, Sanmar Engineering Corporation)
P S Jayaraman (Managing Director, Chemplast Sanmar)
V Narayanan (former Chairman, Pond’s India)
Adit Jain (Managing Director, IMA India)
Preety Kumar (Managing Director, Amrop International India)
Pradip Kapadia (Advocate, Gagrat & Co.)
Ashok Wadhwa (Managing Director, Ambit Corporate Finance)