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 Given the prevailing lack

The Board s Role From  Boardroom Challenges   The Future of Boards The Future of BoardsWhy so many directors were reflecting on the board s role is difficult to pinpoint. A partial answer undoubtly rests in the fact that regulations and laws offer little guidance about what boards are suppos to do. In most states the basic statute that descris the purpose of boards is phras very broadly.

A For instance  in Delaware

Which sets the standard for other states  directors find little help in the statute that defines their job   The business and affairs of every corporation shall  manag by or under the direction of a board of directors.  This statute also tells directors that they Argentina WhatsApp Number List may delegate the actual running of the company to its officers. Court decisions relat to director conduct are largely focus on matters of process that is  on how boards are to carry out their duties. For example  directors must exercise good business judgment and  loyal to the corporation. As one director told us   Our board lawyers say   You know  the board memrs are not suppos to  making the management decisions.

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You re just suppos to  comfortable that

The management is going through the appropriate processes to come to well thought out decisions.   of specificity about their duty  most boards gradually Malta Phone Number List develop an implicit understanding of what their job should . As long as the business was thriving and management was comfortable with what the board was and wasn t doing  there was no ne for greater explicitness. But the economic shock of appears to have caus many directors to reconsider what their boards had en doing and to question whether they could or should  acting differently.

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