CORPORATE GOVERNANCE - ROLE OF BOARD OF DIRECTORS People often question whether corporate boards matter because their day-today impact is difficult to observe. But‚ when things go wrong‚ they can become the center of attention. Certainly this was true of the Enron‚ Worldcom‚ and Parmalat scandals. The directors of Enron and Worldcom‚ in particular‚ were held liable for the fraud that occurred: Enron directors had to pay $168 million to investor plaintiffs‚ of which $13 million was out of pocket
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Non-executive director is a member of the board of directors of a company who does not form part of the executive management team. He or she is not an employee of the company or affiliated with it in any other way. They are differentiated from inside directors‚ who are members of the board who also serve or previously served as executive managers of the company. refers to a member of the board of directors who is neither an employee of the company nor is in any manner engaged in the day-to-day
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Blake Miranda BUAD 101x My Future Athletic Director Ever since I was little‚ the same question has been asked to me‚ “What do you want to be when you grow up?” When I was at the age of four the answer might have been an astronaut or a football player but times have changed. As time progressed it changed to an architect‚ then to a police officer‚ and all different types of jobs as I got to college I really started to think about what I want to do. It ranged very much. I wanted to study criminal
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THE BOARD‚ THE EXECUTIVE & GOOD GOVERNANCE Ladies and Gentlemen‚ this paper attempts to look at the board and individual directors in context to organisational development. To achieve this‚ the key roles and duties of the board and its directors will be fully reviewed in light of current corporate governance concerns. This paper relies heavily on Review of The Role and Effectiveness of Non-executive Directors – Higgs Review – (2003) and the Combined Code on Corporate Governance (2006) for referencing
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Speech #1 Outline - Career Speech Purpose: To inform audience about the career of a Fashion Director Intro: The fashion industry is something I’ve always wanted to be involved in since I was young‚ and I knew I had no choice but to make a career out of it. Many people are skeptical of any career within the fashion industry‚ well‚ in my opinion‚ only because they think you won’t benefit from it or be able to find a job at all. But in actuality‚ fashion is always changing and the demand for people
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Executive Remuneration Analysis of Vodafone 1. Introduction Executive remuneration is the compensation which company rewards for the executive directors. Since the early 1980s‚ executive payment increase rapidly. The unjustified increasing of executive remuneration pushes the reform of remuneration policy. The Cadbury code mentioned this problem in the Code of Practice in 1995. Cadbury gives some suggestions to companies about the executive remuneration policy. According to his suggestions‚ companies
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Board of Directors Apple’s Board of Directors (BOD) is composed of seven members. Out of the seven directors‚ six of them are males; Steve Jobs age 54‚ William Campbell age 69‚ Arthur Levinson Ph.D. age 60‚ Ronald Sugar age 61‚ Millard Drexler age 65‚ and former vice president Albert Gore Jr. age 62 and one is a female Andrea Jung age 51. The average age for the board is 60 years old. The members of the board bring into Apple a vast experience from retailing‚ governmental‚ engineering and technological
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DIRECTORS PROFILE Tan Sri Dato’ Md Nor Yusof Chairman/Non-Independent Non-Executive Director Chairman/Non-Independent Non-Executive Director • Aged 64‚ Malaysian • Joined the Board on 27 June 2006 • Attended 8 out of 9 Board Meetings held in 2011 • Member of the Board Risk Committee Tan Sri Dato’ Md Nor graduated with a Bachelor’s Degree in Commerce from the University of Otago‚ New Zealand and is a qualified Chartered Accountant. Tan Sri Dato’ Md Nor has spent more than 18 years of his
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The Law of Directors Duties The law of Directors Duties stems from the systems of corporate governance in order to ensure that the persons occupying higher positions within the company will take good care of the company‚ as well as not act in a way that will create deficiency. There are 3 sources to the legal duties: the common law; the principles of equitable fiduciary duties; and the statutory duties stated under the Corporation Act section 180-183(Harris‚J.‚ 2008). The penalties of breach
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The Role of Boards of Directors in Corporate Governance: A Conceptual Framework & Survey∗ Ren´e B. Adams‚† Benjamin E. Hermalin‚‡ and Michael S. Weisbach§ e April ‚ Abstract This paper is a survey of the literature on boards of directors‚ with an emphasis on research done subsequent to the Hermalin and Weisbach (2003) survey. The two questions most asked about boards are what determines their makeup and what determines their actions? These questions are fundamentally intertwined‚ which
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