This case examines how Thailand recognized corporate governance as a critical element of corporate and financial sector reforms in response to the financial crisis of 1997. It also examines the role of boards of directors, and their professionalism, in ensuring the effective oversight of management and creating value for shareholders. Thailand was the first country in East Asia after the crisis to establish an institute of directors, offering directors training and promoting good corporate governance. The Thai Institute of Directors has been recognized as an example of good practice and has led to the establishment of other institutes of directors in Asia and the Middle East
