Entry of top chief executive officers of large MNCs and Non-Resident Indians into the boards of leading domestic companies will help India integrate with the prevalent global corporate culture, says a survey.
The study was conducted by Assocham and the Asian Centre for Corporate Governance.
The survey, conducted in 100 large-scale corporate houses, said that 90 per cent of the respondents favoured the entry of big foreign nationals and NRIs to acquire board rank scale in India.
Likewise, geographical barriers imposed on the domestic corporate giants should be erased so that they can join the board rank positions in overseas companies, an Assocham statement said.
Citing the present law which bars foreign corporate giants to automatically hold the position in both the public and private enterprises, it said such personalities bring with them huge experience and global vision to strengthen the corporate governance.
About average remuneration for the directors, 40 per cent voted for within the range of nine lakh per annum while 30 per cent said it should be within six lakh per annum.
While 55 per cent of the respondents suggested that retiring age should be 65, 30 per cent voted for the 70 years mark.