Sri Lanka needs practical directors, not theory-focused leaders: SLID chief

The Sri Lanka Institute of Directors (SLID) has urged the business community to prioritize practical experience and street-level understanding when appointing directors to company boards, moving away from candidates whose expertise remains largely theoretical.

The institute's leadership highlighted the gap between academic knowledge and real-world business acumen, emphasizing that effective board governance requires directors who understand market dynamics, operational challenges, and the practical realities of doing business in Sri Lanka's complex economic environment.

The call comes amid broader discussions about improving corporate governance standards across Sri Lankan enterprises. Directors with hands-on experience in their respective industries bring valuable insights into risk management, strategic decision-making, and stakeholder relations that purely theoretical knowledge cannot provide.

SLID's position reflects international best practices in board composition, which increasingly emphasize the need for diverse experience profiles that combine both formal qualifications and demonstrated business success. The institute has indicated that enhancing the quality of board leadership is essential for improving corporate performance and investor confidence in the country's business sector.