Distinguished corporate leader and governance expert, Dr. Jekwu Ozoemene, has underscored the vital distinction between accountability and responsibility in board leadership during the FMO Nominee Directors Roundtable 2025, held last week in Den Haag.
The bi-annual flagship event, hosted by the Dutch Entrepreneurial Development Bank (FMO), brings together Nominee Directors from across the globe for high-level discussions on corporate governance, board performance, and emerging global trends.
Reflecting on the event, Dr. Ozoemene—an experienced CEO, Non-Executive Director (NED), Board Trustee, Africa Finance Specialist, and Adjunct Faculty at Lagos Business School—described the roundtable as “an essential masterclass in effective corporate governance.”
Accountability vs. Responsibility
Dr. Ozoemene drew attention to a core principle often misunderstood in corporate boardrooms: the distinction between the roles of Executive Directors (EDs) and Non-Executive Directors (NEDs).
“Executive Directors are responsible for execution — running the company day-to-day and achieving strategic goals,” he explained.
“Non-Executive Directors, on the other hand, are accountable for oversight — ensuring that management performs effectively and that shareholders’ and stakeholders’ interests are safeguarded.”
He emphasized that responsibility lies with executives who manage operations, while accountability defines the oversight role of non-executives, who must maintain independence and provide objective guidance to the board.
The Misconception of Experience
Dr. Ozoemene also addressed a common misconception in corporate leadership: the assumption that strong executive experience automatically translates into effective board oversight.
“We often assume that stellar performance as an Executive Director qualifies one to be an exceptional Non-Executive Director. This is simply not true,” he noted.
“The greatest challenge for former executives is resisting the urge to take responsibility rather than hold others accountable.”
He added that making the transition from a management mindset to a governance perspective requires discipline, self-awareness, and structured learning opportunities such as the FMO roundtable.
Focus on Modern Governance Challenges
The 2025 roundtable covered key issues shaping global boardrooms, including Board and Risk Management, Climate Governance, and Leveraging Generative AI for Strategic Leadership. Sessions also featured updates from FMO’s CEO and Supervisory Board Chairman, alongside workshops on conflict of interest management and board effectiveness.
Dr. Ozoemene concluded that the event equips Nominee Directors with the frameworks and best practices necessary to strengthen board performance and maintain the “critical distance” essential for effective oversight.
“It’s about understanding where governance ends and management begins,” he said.
