Corporate Governance Speech Prep

Corporate Governance Speech Prep - be sure the company is...

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Lauren Brockmiller BUS 101 Dr. Barr Due 2/23/11 1) a) What is corporate governance? Corporate Governance refers to the process by which a company is controlled or governed. b) What are the principles of good corporate governance? 1) Select outside directors to fill most positions 2) Hold open elections for members of the board 3) Appoint an independent lead director (chairman of the board) and hold regular meetings without the CEO present 4) Align director compensation with corporate performance 5) Evaluate the board’s own performance on a regular basis c) What is the Board of Director’s role in corporate governance? The board of directors plays a central role in corporate governance. The board of directors is an elected group of individuals who have a legal duty to establish corporate objectives, develop broad policies, and select top-level personnel to carry out these objectives. The board also reviews management’s performance to
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Unformatted text preview: be sure the company is well run and stockholders’ interests are protected. d) How does Sarbannes-Oxley fit into the discussion of corporate governance? Sarbannes-Oxley fits into this discussion because it took the legal steps to make sure that companies are run fairly. Good corporate governance isn’t a law. Sarbannes-Oxley however is a law. It requires independence of auditors, detailed financial discloser. It requires CEOs and CFOs to certify financial statements. It takes the necessary steps to keep businesses legal. 2) 1) As a corporate governance advisor, how do you make sure that your corporate governance stays in place as well? 2) The website seems to give all the needs of a good corporate governance, what role does your company play other than telling people these things? 3) Under Board-Management Processes and Relations, it talks about succession planning. What exactly does this mean?...
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Corporate Governance Speech Prep - be sure the company is...

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