The Institute of Corporate Directors (ICD) Responds to the Crisis in Ukraine

Thursday, 10 March 2022 08:00.AM

The military invasion of Ukraine is an attack on our fundamental principles of freedom, democracy and self-determination. This egregious violation of international rules requires us all to act in a demonstration of solidarity.

The ICD is therefore calling on all Canadian boards to re-evaluate their organization's involvement in Russian companies. Directors should also reconsider their investment strategies as well as their operations in Russia and engage with stakeholders in respect of such strategic moves.

Rahul Bhardwaj, ICD President and CEO: "We believe that Canadian directors will feel compelled to take a courageous stand to uphold these principles, which represent fundamental Canadian values of freedom and democracy. We encourage Boards to take into consideration their unique circumstances and strategy and act swiftly and decisively in the best interests of all stakeholders."

The ICD Board of Directors is in full support of this statement.

"This is a critical time for all leaders to take a stance with respect to core values and principles," said Linda Hohol, Chair, ICD Board of Directors.

SOURCE: Institute of Corporate Directors (ICD)

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