On May 3rd, Susanne Sesselmann, a former member of the board of directors of Marengo Mining Ltd., now Era Resources Inc., gave a guest lecture on Corporate Governance to the students of the Global Business PAC program. She built bridges between the terms and concepts of Globalization and global governance to corporate governance and explained the statement, principles, and code of conduct it consists of. We live in a heavily globalized world. Such a development comes with many upsides and downsides. Undoubtedly, it also affects global governance. Big global players such as the United Nations or the World Health Organization are responsible for international contracts, jurisdictions, peace, heath governance, political freedom, and corporate social responsibilities. Corporate Governance is Global Governance in Practice and on an organizational level.
Ms. Sesselmann did not only give an overview of the theoretical foundation of corporate governance but also gave real-life examples from the Copper-Molybdenum project of Marengo Mining in Papua New Guinea. She shared experiences of her time as a board member of Marengo Mining Ltd, feasibility studies, and cost-sensitive information that needed to be shared with shareholders and stakeholders. Furthermore, she pointed out the importance of working closely with the locals. Since starting their project in Papua New Guinea, Marengo Mining Ltd. had tried to give as many jobs to the locals as possible. We thank her for her time and sharing her stories with us.