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Who is Responsible for

Your Corporate Culture

29 November 2024, Friday | 04:00 PM - 06:00 PM (GMT+8)

Corporate Governance is multi-facetted and central to our advocacy at ICD. Corporate Culture is part of Corporate Governance. We sometimes don’t emphasise the importance of culture sufficiently.


Yet we can all recall corporate disasters where a defective corporate culture was a major contributor to the problems or even the demise. Enron comes to mind. Ethics was something that existed in a well-written Corporate Code but gathered dust on the shelf: e.g. in its financial reporting. Financial engineering and lack of transparency resulted in fatal misrepresentations.


Recently we witnessed the long-term results of a change in corporate in Boeing, which started some 20 years ago! Safety and engineering pride had to give way to dividend increases and stock buybacks. Engineers clashed with accounts. Quality suffered: harassment happened frequently and whistleblowing reports were not investigated.


The benefits of cost cutting were applied to shareholders. No funds were available for the long-term development of aircraft, notably the 737 replacement. The rushed development of the 737MAX became inevitable to compete with the much more modern Airbus 320NEO. In the ‘bottom-line’ culture, engineering shortcuts were made and information suppressed.



The company lied about new software to the Regulator (FAA) and when two planes crashed the CEO blamed inexperienced foreign pilots. In fact, this crucial piece of new software (MCAS) was absent from training materials. As a result, the pilots on the crashed planes did not know about its existence. Consequently, they were unable to override it. 346 casualties resulted.


Shareholders won a case against Boeing and its directors in the Delaware Chancery Court. Its verdict highlights the shortcomings of the board and it fined the directors $237 million. Most directors were ordered to step down. The judge ordered the creation of an aircraft safety committee in the Board. Directors with aviation experience can serve on it. Many other sanctions were imposed. In one of them, Senior Executives’ bonuses now include specific consideration of adherence to and promotion of safety initiatives.


Changing a culture can be good business. The new culture must be measured in a recurring survey and its findings must be followed up consistently.


So, who is responsible for the culture in your company?

Download the ICD Masterclass Series

Event Brochure here


26 July 2024, Friday

4:00 PM to 6:00 PM (GMT+08)

30 August 2024, Friday

4:00 PM to 6:00 PM (GMT+08)

27 September 2024, Friday

4:00 PM to 6:00 PM (GMT+08)

25 October 2024, Friday

4:00 PM to 6:00 PM (GMT+08)

29 November 2024, Friday

4:00 PM to 6:00 PM (GMT+08)

13 December 2024, Friday

4:00 PM to 6:00 PM (GMT+08)

Building a Working and Effective Board: Essential Steps to Success

Atty. Teodoro Kalaw IV, FICD 

Corporate Secretary and Thought Leadership Chair

Institute of Corporate Directors


Customer Centricity

Mr. Ramon Vicente Roxas, MICD

Founder and Managing Director

Capability Philippines, Inc.

Effectively Cascading the Company Strategic Plan

Mr. Rex Drilon II, FICD
Former Chairman,
Institute of Corporate Directors


Deploying a Data-first Strategy: Separating Fact Versus Fiction

Dr. David R. Hardoon, FICD

Chief Executive Officer

Aboitiz Data Innovation


Who is Responsible for Your Corporate Culture

Mr. Frank Numann, FICD

Independent Anti-Bribery Consultant

Health Governance: The Value for Strategic Purchasing

Dr. Kenneth Y. Hartigan-Go  MD, MD (UK), FICD

Adjunct Faculty

Asian Institute of Management


SOLO PASS: PHP 3,000.00

Attend one session only (Inclusive of VAT)

SERIES PASS: PHP 12,000.00

Attend all six sessions (Inclusive of VAT)


NOTE: Registration for

ICD Members is FREE

​Discounts applicable (Only 1 discount is applicable per registration)


    5% if referred by an ICD Member

    5% Group Discount with a minimum of 5                           participants in the same company

This online course is free for all ICD Members.

However, if you would like to receive the

E-Certificate and materials, the program fee is PHP 1,000.00 per session.


Atty. Teodoro Kalaw IV, FICD

Corporate Secretary,
Institute of Corporate Directors

As one of the first and youngest Fellows of the Philippine Institute of Corporate Directors (ICD), Atty. Kalaw has chaired ICD’s Family-Owned or Controlled Corporations Circle since 2007, where he was primarily responsible for creating and developing ICD’s Governance Framework for Family-Owned or Controlled Corporations as well as the Institute’s model for addressing sustainability at the board-level, now known as the Sustainability Strategy Spectrum. He has counseled and taught on corporate governance both locally and internationally, with the latter aspect particularly as a consultant to the World Bank’s International Finance Corporation. A Trustee of the Institute from May 2012 to June 2020, he also serves on its core faculty as Chair of the Thought Leadership Committee and is its current Corporate Secretary. In May 2021, he was installed as the Institute’s youngest Life Fellow. He also serves as Corporate Secretary of ICD’s sister learned society for public governance, the Institute for Solidarity in Asia, as well as the Center for Excellence in Governance. He is also a Graduate Member of the Australian Institute of Company Directors, from which he obtained his Company Directors Course Diploma in 2010. In October 2022, Atty. Kalaw became the first Filipino to be elected a Fellow of the Family Firm Institute, the world’s leading learned society of family firm consultants, in both of that organization’s recognized discipline specializations: Family Firm Governance and Family Wealth Advising.


He presently serves as an independent board director of the shipping and logistics firm Gothong Southern, and is one of the few Filipinos who are fully certified in the Balanced Scorecard Strategic Performance Management approach by the co-founders of the process, Professors Norton and Kaplan of Harvard Business School. Accredited by the Global Reporting Initiative as its first Filipino Certified Sustainability Professional, he is also both a Certified Sustainability Practitioner and Certified Sustainability Reporting Assurer of the Institute of Certified Sustainability Practitioners as well as a certified Project Management Professional (PMP) by the Project Management Institute of the United States.


Atty. Kalaw received his Master of Laws from Harvard Law School. He received his Bachelor of Science degree in Management and his Juris Doctor degree, with 2nd Honors, from Ateneo De Manila University. He obtained his Master in Public Administration degree from the University of the Philippines and his Master of Business Administration degree jointly from the Kellogg School of Management at Northwestern University and the Hong Kong University of Science & Technology Business School. He obtained a Master of Studies in Sustainability Leadership from the University of Cambridge. He currently serves on the faculty of the Ateneo Law School, where he teaches Corporate Governance as well as Governance, Law, & Development for the J.D. Program and Intellectual Property Management and Enforcement for the school’s pioneering LL.M. Program in intellectual property jointly sponsored by the Intellectual Property Office of the Philippines.

Work Desk
"Fintech helps move the Philippines into the 21st century when it comes to financial services. There is a long way to go. The legal and administrative framework is an obstacle to getting where we want to be sooner. The government shows commitment though."

Ms. Imelda Ceniza Tiongson, FICD


Masterclass: The Third Series Session 1

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