This is a book about directorship. Moreprecisely, it’s about nominee directors, who are nominatedby IFC and other development finance institutions (DFIs) tothe boards of investee companies to fulfill a dual mandate:first, they are expected to perform all the duties and tasksof a board member. Second, they are also charged withimproving the corporate governance, sustainability, andethical behavior of the investee company. This need existsbecause the empirical evidence indicates that in manydeveloping countries it is nearly impossible to createlong-term shareholder value without marked improvements inthese areas. This book, based on sound research andreal-life examples, offers not only a useful learningplatform but also, the authors hope, an entertaining read.It focuses on directorship and leadership skills in theboardroom and does not attempt to cover the whole‘waterfront’ on corporate governance issues. Many otherpublications (including some found on the IFC website) dealextensively with the structures, processes, and legalframeworks of corporate governance. The story emphasizes thelearning and adapting that must go on for a nominee directorto be effective in encouraging change and improvement on theboard and in the company. It draws on specific situations toillustrate that IFC rules and instructions cannot always beperfectly followed: the nominee director is in the ‘heat ofthe battle,’ under time pressure, and confronted withdilemmas and uncertainty that only in hindsight can bestructured and analyzed clearly. The target audience of theincredible adventures of Carla is nominee directors,especially those who are newly appointed or candidates whoare considering taking on such a role. It aims to exposethem to the challenges in the behavioral dimension ofcorporate governance and to help them learn, through Carla’sexperience, the actions and communications that can helpthem, or not help them, achieve the goals they are committed to.
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