Over the past decade, Israel, and the rest of the world have been developing a new approach concerning the position and the functions of the Director, with an emphasis on publicly-traded companies. The characterization of the last decade’s Directors is entirely different from his predecessors, as today they are faced with many new dilemmas. In addition, there is a lack of adequate training for this position, as well as the lack of preparation for shareholders' expectations from the Board of Directors in general, and from the Director in particular. Legislators, regulators and the courts aggravate the responsibility expected of directors, and the result is a culture in which class action law suits are the first remedy.
The Israeli Directors’ Union was established under the initiative of Prof. Joseph Gross, Esq., who serves as Chairman of the Union. A number of entities has joined, including the Faculty of Management at Tel Aviv University, Israeli Corporate Governance Chair at Bar Ilan University, LAHAV Executive Education at Tel Aviv University, the Israeli Association of Publicly Traded Companies and SRI Global Group. The IDU was created in a manner similar to analogous organizations, which for years have been operating in the United States, England, Australia, New Zealand and other countries, and collaborating with them with the intention to create multinational companies, as well as to participate in international conferences, exchange information and more. IDU brings together directors and boards of directors of public companies, large private companies, state-owned companies, municipal companies and large institutions.
IDU is engaged in issues related to the advancement of Directors’ status in Israel, and acts as a centralized professional institution that supports directors in their way of creating a responsible and proper business atmosphere in Israel. The Union also provides a platform for knowledge acquisition, training, and expert advice, as well as represents the directors’ interests vis-à-vis the legislators and regulators, and strives to ensure that any director will safely and successfully navigate through complex business challenges he is facing.
- Development of directors’ professional level, corresponding to the expectations and challenges they will face.
- Updated data sources for directors so that they can be regularly briefed of current events.
- Representing the interests of the directors before the Knesset and regulators, while monitoring, controlling and coping with the changes that occur from time to time.
- Creation of a Quality Mark for the directors’ training, which is necessary in a Western country, such as it is customary abroad.
- Empowering of the directors and boards of directors in Israel
- Continuing education, including due to the requirements of the Securities Authority regarding corporate governance.
- Discounts on advanced courses for directors.
- Participation in seminars and conferences.
- Regular updates on professional and regulatory developments.
- Job placement center for directors.
- Building of a training program tailored to the director position.
- Providing professional support and advice to members.
- Guidance on insurance issues for directors.
- Representation before legislators and regulators.
You are kindly invited to join the Israeli Directors’ Union. For further information and registration please contact the IDU via our website: www.idu.org.il and / or phone: 03-7363146