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Unformatted text preview: Officers-Senior employees that oversee daily operations-president-chief operating officer-members of the senior management team Directors’ fiduciary duties-To make decisions in the best interest of the company (which may not always be in the best interest of the shareholder)-consider other stakeholders-equal consideration to all shareholders-no personal profits at company expense-declare conflicts of interest Governance failures-Examples: Enron, WorldCom, Tyco-adversely affect many parties, both direct and indirect (shareholders, employees, suppliers, pension funds, communities, government, civil society) Principles of good governance (OECD)-ensure the basis for an effective corporate governance framework-understand the rights of shareholders and key ownership functions-provide equitable treatment of shareholders-appreciate role of stakeholders in corporate governance-ensure disclosure and transparency-outline clearly the responsibilities of the board...
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- Fall '10
- Management, Corporation, corporate governance GOVERNANCE, system Corporate governance, corporate governance Shareholders