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BUS101 Paper_4.docx - Feb 16th In this Chapter the...

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Feb. 16th In this Chapter, the fiduciary duties are the duties of different kinds of committees in corporate boards. This chapter lists five committees of the board. The first committee is called compensation committee. This committee staffed by outside director and it is responsible for drawing up salary plans, pension plans and profit share plans for high managers of a corporation. Secondly, the nominating committee is responsible for finding candidates for officer and directors and turning in the list of recommended candidates to stockholders’ meeting for consideration. Thirdly, the executives committee, which works closely with top manager, plays an important role on the development and construction of team. Its’ job is to help with the running of business effectively. The fourth committee is special committee. This committee’s job is to devote issue of corporation’s responsibility. The last committee is audit committee. Audit committee’s job is to supervise the financial accountant and financial report.
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