Nir Zichlinskey

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.