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A decade of Vahura On-Board
Ten years ago, in August 2014, we launched an exciting new service called OnBoard. It was to help companies find independent directors to sit on their boards. It baffled some observers in the recruitment space. Back then, the independent director was still seen as someone who just made up the numbers, a regulatory box to check off. In a market that was dominated by family-run companies, promoters typically installed friends and acquaintances in the independent board seats.
But we had picked up the winds of change that were blowing in Corporate India, both in boardrooms and the regulatory corridors. As markets grew larger and more accessible, smaller companies and domestic companies began to function more like MNCs. Boards began to be professionalised, and the independent director was seen as someone who could add real value to the bottomline. There was a clear shift from informal networks to a more professional approach to select independent directors. The directors themselves were increasingly individuals who had a proven track record as operators or administrators. The regulator, too, tightened the screws around board appointments.
OnBoard turned 10 last month. Through this dynamic decade for corporate governance, we’ve been in the thick of the action. Brick by brick, we have built up a high-quality roster of independent directors. Their experience and expertise ranges across several sectors, industries and public-private. Our bespoke and detail-oriented approach to selection has seen us become trusted advisors to pre-IPO companies, listed entities and Special Purpose Vehicles.
Shweta Rao, Vice President and head of Vahura On-Board, had this to say about the journey: “When we started in 2014, board search was seen as a rather niche offering in the recruitment space. We’ve spent a lot of time explaining what we do, through workshops, roundtables and meetings. Suffice to say that we’ve had less and less explaining to do every year. Our clients find us before we can go to them!”
Avi Agarwal, Management Consultant and a key member of the On-Board team, said Vahura’s board advisory services have helped companies look beyond existing talent pools. “Boards today need more than just experience, they need foresight,” Avi said, “We help companies adopt a structured approach to board mapping and anticipate future trends.”
Our recent collaboration with Hyundai India in the run-up to one of the largest IPOs in India’s history is a testament to our expertise and longevity. It has been a fulfilling journey for OnBoard, which will continue to help companies identify Independent, Nominee and Women Directors who can add strategic value to the Board. We’re anticipating the next decade to be as action-packed as the previous one!
