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Press Releases

Focklaghyn-naight

Media Update - 16 April 2002

16^th April 2002,Since launching two years ago, a number of directors have submitted themselves to a rigorous process of becoming a Chartered Director, and today it was announced that Dean Waddingham, managing director of Britannia International has become the IoD's 100^th Chartered Director.

Based on the Isle of Man, Britannia International is the offshore subsidiary of the UK's second largest building society, Britannia Building Society. Dean Waddingham comments, "While I have undertaken significant technical and managerial training over the years including an MBA, I was appointed to the board without any formal director training."

"With an increasing focus on good corporate governance, I considered it inappropriate to be exposed to such a 'gap' in my own knowledge and understanding. Chartered Director was undoubtedly the most appropriate method of addressing this shortfall, and I am grateful for Britannia's support in helping me to achieve this."

Recent stories in the news have highlighted that directors must now understand a broader range of issues than previously.  In addition, there is an increasing focus on the professionalism of directors, from the Government, the media and stakeholders.

One of the best ways of improving and formalising leadership standards in the boardroom is through the Chartered Director award.

Dean Waddingham continues: "The course appeared to be the most appropriate to address the particular needs I had identified, and benefited from the flexibility that I could enter for an exam date in line with study progress, hence giving re-assurance that this could be deferred if work pressures necessitated. In fact this was not necessary in my case.

"I found two areas within the course of particular value. Firstly, the greater understanding of "risks" associated with decisions as a director. Secondly, re-enforcing the vital need for directors to plan their time to ensure that important strategic decisions do not get overshadowed by the urgent operational demands of the business. I believe that any practising director is taking a personal risk if they do not ensure they fully understand their obligations."

 He continues, "I was delighted with the news that I am the 100^th Chartered Director to be elected, and the first on the Isle of Man. I just hope that more directors take the opportunity to embark upon what is a demanding but rewarding programme."

100 directors have now demonstrated the dedication to raise their professional standards and highlight their competence and integrity to all their stakeholders. The procedures for becoming a Chartered Director are rigorous, but wholly achievable by directors with the requisite knowledge, experience and integrity.

Candidates need to have a good knowledge of subjects such as company law, boardroom practice, finance, marketing and business strategy. The Programme is being offered for the first time on the Island, at the IoM International Business School, starting 16th May.   For information on the May, or later Programmes, please contact Sue Smart 0161 295 5802, 07748 147864 or e-mail s.j.smart@salford.ac.uk

If you would like further information about Chartered Director and other courses offered at the IoD please call Simon Bull on 020 7451 2601 or email simon.bull@iod.com. Alternatively, try the interactive practice exam at www.iod.com/practiceexam to test your knowledge.

About the IoD
The IoD (Institute of Directors) is a non-political organisation with upwards of 54,000 members in the UK and more than 60,000 world-wide.  Membership has increased 50% over the past 5 years, and includes directors from many sectors of the economy - from media to manufacturing, e-business to public sector.  Members include CEOs of large corporations as well as entrepreneurial directors of start-up companies. 

The IoD offers a wide range of business services including business centre facilities (including six regional centres), conferences, networking events, issues-led guides and literature as well as information services and free access to a comprehensive business library and enquiry service.  It places great emphasis on director development and has established a certified qualification for directors - Chartered Director - as well as running specific board-level and director-level training and individual career mentoring programmes.

As well as a these business services, the IoD provides authoritative representation of the interests of business to government and policy makers, and to be a means by which business leaders' experience can be influential in the development of public policy.

For Press information contact:

Katherine Danby
T: 020 77668837
E: katherine.danby@iod.com