He notes that the legal liability for independent directors is high, as minority shareholders have the right to challenge and complain against decisions made. Given this, Yeo says he’ll “think twice” before accepting any board invitations and cautions potential directors that they shouldn’t be “too happy” if asked to join the board.
Being invited to join a company’s board of directors should be seen as a “responsibility” and not a “reward”, says Philip Yeo, honorary advisor of GDInstitute (GDI), an independent, non-for-profit body.
Yeo was speaking at a fireside chat at GDI’s launch on Jan 26 held at the Four Seasons Singapore.
