[Music] hey there future business mugul and governance gurus welcome back to the channel if you're interested in the Ever Changing world of corporate governance then you are in the right place today we are diving into the eight biggest Trends in the field of corporate governance for 2023 so buckle up and hit that like and share button number one board quality first on the list is board quality which stakeholders becoming smarter and more aware the scrutiny on the board performance is on the rise this isn't just a US phenomenon but Global in India there's a push for more non-executive directors while Brazil is focusing on gender diversity and Europe there asking for a mix of Financial and sustainability experts our next Trend focuses on the persons cheering the ship the CEO turbulent times like postco recovery and Global tensions put the spotlight squarely on CEO performance so expect to see boards keeping a closer eye on CEOs and getting more involved in succession planning and executive compensation next is ESG the buzzword that's taken the World by storm Global Investors are demanding ESG transparency and this trend is compelling companies to act and folks it's not just about disclosing your sustainable practices but also about ensuring that what you are disclosing is accurate and up to dat the relationship between the board and the EXE executive leadership is becoming increasingly important and that's the next Trend to watch for expect to see directors taking a more active role in corporate Affairs as com compliance and fiduciary expectation ramp up risk taking is not a bad word if Done Right companies are encouraged to have risk management committees why because calculated risk can give give you a competitive advantage and drive growth especially in these uncertain times AI is not the future it's the now but with great technology comes great responsibility draft laws are already in place in many countries and full scale regulations are expected this year the implications for corporate governance are massive and hence it is imperative because this techn technology works very closely with humans to have regulations in place next up ethics ethical standards are changing and companies need to adapt gone are the days where lapses could be swept under the rug the fines are Hefty and the reputation damage is long lasting at some moments we have seen that the companies have not even emerged out of those long- lasting reputation damages last but not the least we have corporate culture addressing the s in ESG companies are realizing that they need to invest in a positive work culture for their employees ignore this and you are in for a world of heart there you have it the eight hottest Trends in corporate governance for 2023 which one you are most interested in let me know in the comments below and if you found this information valuable give this video a thumbs up and share it with your network until next time stay informed and stay ahead of the game [Music] bye