ICD: Fortifying boards towards a robust future

Since 1999, the Institute of Corporate Directors (ICD) — founded by Dr. Jesus Estanislao, FICD, and his peers — has played a pivotal role in shaping organizations in the Philippines.

- By MIGUEL LIBOSADA

Champions of good corporate governance celebrate the success of the 2025 Golden Arrow Awards.

It has helped empower board leaders by advocating for corporate governance (CG) — ensuring that they lead their respective companies while upholding transparency and accountability.

The Institute has been committed to advancing good CG — doing what's good and doing what's right. This commitment is reflected in their processes and services, such as research, assessments, and consultations.

For 26 years, the Institute has contributed to training leaders from various industries, all in the hopes of building better boards and raising the bar for corporate governance. ICD remains dedicated and unwavering in its advocacy.

While the influence of good CG already spans various industries, ICD acknowledges that there are still aspects that need improvement, and it is focusing on addressing these.

“ICD continues to focus on key areas where improvement is needed — like strengthening board independence, planning for leadership succession, and making sustainability part of every company’s strategy,” says ICD Chairperson Atty. Benedicta Du-Baladad, FICD.

“These are essential in building strong and resilient organizations and in promoting governance as a true culture, not just a checklist for compliance.”

ICD Vice Chairperson Imelda “Ida” Tiongson, FICD, shares that the Institute’s recent efforts have been centered on managing risks, strengthening Philippine capital markets, and rebuilding trust. These efforts go beyond companies — they encompass the whole country.

Tiongson also discusses ICD’s efforts in pushing for stronger whistleblower protection policies for corporations and government-owned or controlled corporations (GOCCs), following the discovery of inadequate safeguards in many government agencies.