“A good reputation is more valuable than costly perfume” Ecclesiastes 7:1 (The Holy Bible) A few years ago, when CEOs had to answer the question “What are the major risks facing your organization?” many of them were quick to list political (environmental), operational, regulatory and human capital as the top four. Rarely did they consider […]
Conflict may be regarded as any form of friction, disagreement, or discord arising within a group when the views or actions of one or more members of the group are either resisted by or unacceptable to one or more members of the group. Where individuals with strong convictions associate, conflict may arise from a divergence […]
In an effort to maintain standards that form the basis of their competitive advantage, multinational firms have a set of standard operating procedures that apply across the global organization. Indeed, business success often depends on globally integrated operations – including marketing, production, research and development as well as human resources management. A major challenge in […]
The courts have held that “a director’s right to information is usually unfettered in nature” (Kalisman V. Friedman, 2013 Delaware Chancery Court). Given the extent of their statutory duties, Directors are entitled to demand for and receive all such information as required to enable them take decisions that are in the best interest of the […]
Increasingly, regulators, shareholders, and other stakeholders expect the Board of Directors to reflect the diversity of its broader stakeholder group and even society in general. A growing number of jurisdictions are encouraging – and some, particularly in Europe are mandating – quotas regarding the percentage of women required on the boards. In Norway, diversity in […]
The Chairman of the Board is Primus Inter Pares (the first among equals or first among peers) on the Board of Directors of every company and typically elected by members of the Board of Directors who also determine the period for which she is to hold office. In some jurisdictions, the Chairman of the Board […]
The various Codes of Corporate Governance provide that Boards should undertake an annual appraisal of the performance of the Board, Board Committees and of individual Directors. The Report of this assessment is in some cases required to be sent to the industry regulator and presented to the shareholders at a general meeting. Many Boards have […]
A Director stands in a fiduciary relationship towards the company and shall observe the utmost good faith towards the company in any transaction with it or on its behalf. She is therefore expected to devote such time and attention as is necessary for the proper performance of her duties as a Director. Attendance and effective […]
The SEC Code of Corporate Governance provides that the Board may in addition to the Audit Committee required by the Companies and Allied Matters Act, establish a Governance & Remuneration Committee as well as a Risk Management Committee, as the Board may deem appropriate depending on the needs and industry requirements of the Company. The […]
With the dip in the price of crude oil, Nigeria has experienced decline in its foreign revenue, and this has affected the Naira adversely. The Naira suffered a devaluation in 2014 and again recently as a result of market activities propelled by CBN foreign exchange policies. These developments have seen many companies scale down activities […]