As part of an ongoing investment in developing their various boards of directors, the Cook Islands Investment Corporation (CIIC) has built up a potential director database of more than 100 people over the past year, with 13 new board of director appointments taking place within that same timeframe.
CIIC has been implementing regular board director training sessions within the CIIC Group since 2018, with course topics including governance essentials, finance, risk management and strategy.
Sessions take place twice a year and are well-attended, with representation from each of the operating entities within the CIIC Group, which includes the Airport Authority, Avaroa Cable Limited, Bank of the Cook Islands, Ports Authority, Te Aponga Uira, Te Mana Uira O Araura, To Tatou Vai and several others.
Most recently, CIIC held a series of five different sessions from April 26 to May 3, including two public information sessions – one in Rarotonga, one in Aitutaki – for members of the public who were potentially interested in joining any of the CIIC boards and who wished to find out more about the requirements and responsibilities of such a role.
Potential board director in the making Maeva Henry attended one of these sessions and described it as being “very educational”.
“As someone who is new to this, I thought the information session was a real help in terms of understanding the responsibilities and duties that are required of a CIIC Group board member,” said Henry.
Explaining the purpose of these public information sessions in more detail, CIIC chairperson Michael Henry said the goal was “to encourage people who are interested in governance roles to formally submit their interest, so that they may be considered for possible future appointments”.
“We are also particularly interested in encouraging those of a younger generation into these roles.”
In addition to the two public information sessions, experienced CIIC board director Caren Rangi led and facilitated two training sessions for existing directors – one focused on board chairpersons and the other for all board members.
The chairpersons’ session included a refresher on roles, responsibilities and board dynamics, while the general session addressed governance principles, board culture, risk management and COVID-19, strategy and review processes.
Rounding out the week, the final session held on May 3 included a CIG Asset Management Program presented by CIIC Property Manager Vasie Ngatoko-Poila and Government Facility Development Division Manager Anne Taoro, followed by a Captive Insurance Program presented by CIIC CEO Allan Jensen.