On 9 October, AmCham Romania and Ziarul Financiar brought together CEOs, entrepreneurs, board members and governance experts at the JW Marriott Bucharest Grand Hotel for the 7th edition of the Corporate Governance Conference, “Building Value in a Fast-Changing World”.

The central message of the morning: corporate governance can no longer be seen as a set of rules companies must comply with. It is a tool that helps them grow and manage risk in an increasingly demanding business environment, and companies grow when people understand decisions and processes, can argue a well-founded “no,” and feel free to ask uncomfortable questions.

Key takeaways from the discussions:

• Governance is part of strategy. Speakers described governance as an enabler rather than a constraint. It is less about what a company cannot do and more about what it can do in line with its strategy and resources: capital, liquidity, and people.
• People and ethics come first. In his opening keynote, Prof. Dr. Dragoș Iliescu noted that the largest business failures of recent decades were rarely technical, but rather ethical lapses, a reminder that governance is, at its core, about human behavior and how leaders influence those around them.
• The courage to say and to hear “no”. A clearly explained “no” is worth more than a half-hearted “yes”. Leaders must create conditions where teams can challenge decisions without fear, and for board members, a justified “no” is ultimately a vote.
• Transparency and psychological safety fuel growth. From open dialogue with employees, investors and boards to regular town halls and empowered executive teams, the companies represented on stage showed how a culture of open questions supports fast, sustainable growth.
• Boards in a volatile world. With fixed, long-term plans no longer realistic, boards are working with multiple scenarios, scrutinizing decisions more closely and benefiting from diverse membership that encourages genuine debate.
• Four levels of courage. Operational, strategic, moral and fiduciary courage (knowing when the truth needs to be put on the table) emerged as a useful lens for leaders and board members alike.

We thank our keynote speaker, Prof. Dr. Dragoș Iliescu; our panellists Omer Tetik (Banca Transilvania), Radu Pițurlea (Concelex), Ionuț Sas (UiPath), Voicu Oprean (AROBS Transilvania), Ana-Maria Mihăescu (MedLife, NEPI Rockcastle), Gabriela Popescu (Microsoft Romania), Cerasela Baiculescu (IBM Romania); moderators Ciprian Lăduncă (Chair, AmCham Romania Corporate Governance Committee) and Mircea Țiplea (Amrop CEE); and our partners at Ziarul Financiar.