James Satariano re-elected IoD chairman

At the recent Institute of Directors' (IoD) annual general meeting, held at The Victoria Hotel, Sliema, James Satariano was re-elected chairman, as was the IoD's executive council.

In his report to members Mr Satariano outlined IoD's busy year, comprising a number of workshops, conferences and international engagements, commencing in May 2001 with a corporate governance workshop, led by IoD Hong Kong-based specialist Peter Barrett.

IoD's contribution to the Commonwealth's governance process was featured in five editions of IoD News last year. IoD were invited to contribute an important paper to the Working Group of the Commonwealth Secretariat in preparation for a meeting of the central bank governors of Commonwealth countries' central banks, held in London early in June.

The following month, the Malta Stock Exchange (MSE) asked IoD to submit their views on the Draft Code of Principles of Corporate Governance, prepared by a working group appointed by the Exchange.

IoD organised a one-day "Introduction to Corporate Governance" workshop for Melita Cable plc at the Westin Dragonara Resort, St Julian's, attended by over 30 staff, managers and directors, which focused on the Malta Stock Exchange Draft Code 13 principles.

Another IoD event in late summer had a capacity audience for a keenly-awaited half-day workshop on corporate governance for the Maltese-run family business, conducted once again by Mr Barrett at the Malta Financial Services Centre (MFSC) in Balzan.

Sadly, IoD's focus on the keynote year-end conference was interrupted by the September 11 events and IoD quickly created the US-Malta Tragedy Relief Fund, which held a number of fund-raising events at Bay Street during Peace Week, together with an awareness campaign using posters and leaflets aimed at raising consciousness on how the Maltese public could contribute to the US-Malta Tragedy Relief Fund.

Lord Leon Brittan, the keynote speaker at the IoD conference, in association with the British High Commission on "How to succeed in Europe - the British business experience", in December, singled out public procurement by the EU as a major opportunity for Maltese companies as part of the EU accession process.

"Malta will be extremely welcome in the European Union," Lord Brittan explained, "and Malta has been singled out by the European Commission as meriting praise for the proficiency and professionalism with which it is pursuing the negotiations."

The full re-elected council consists of Mr Satariano (chairman), Anthony Guillaumier (vice-chairman), James Arrigo (secretary), John Arrigo (treasurer), Anthony Miceli Farrugia, Ivan Burridge and Ron Cleland, members.

Anyone interested in joining the IoD should phone Mr Arrigo on 2124-7400.