By Paul P. Brountas, Paul S. Sarbanes
In Boardroom Excellence, writer Paul Brountas, a company lawyer with greater than 40 years event, discusses the features and elements of powerful forums in today’s post-Enron surroundings. Written in a concise structure, the publication is full of informative useful recommendation for board participants of non-public, public, and nonprofit firms. Boardroom Excellence includes an educated dialogue of basic company governance concerns, together with the tasks and obligations of administrators and the correct interplay of the board with the CEO and administration.
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Extra resources for Boardroom Excellence: A Common Sense Perspective on Corporate Governance
23 ized through the application of corporate governance best practices and ethical guidelines that serve to reduce, if not eliminate, the burdensome legal and accounting costs associated with shareholder lawsuits based on alleged misfeasance and fraud. It is also worth noting that in appraising the beneficial impact of the new law when weighed against its costs, it is likely that the highest cost will be experienced by companies that failed to establish any meaningful controls and suffered from an environment that tolerated noncompliance and questionable conduct.
I told my client that he had asked all the right questions and apparently was comfortable with the answers and protection afforded by the corporation. Chap 2 32 7/27/04 | 1:47 PM Page 32 Boardroom Excellence depleted. I explained that while his performance as a director may have been exemplary, he might be subjected to a demanding pretrial discovery process; a rigorous, time-consuming production of documents; and irritating, if not ugly, depositions, all of which would require the advice and assistance of his own lawyer, whose fees and expenses he would be obliged to pay.
These words describe duties that ordinarily need no definition but have special meaning when applied to corporate governance. Chap 2 26 7/27/04 | 1:47 PM Page 26 Boardroom Excellence out of the legal relationship established by most state corporate laws in America, which generally tend to follow Delaware law and provide that the business and affairs of a corporation are managed by or at the direction of a company’s board of directors. In practical terms, what do these duties entail? The corporation is managed by its CEO and senior executives.