chairman of the Hewlett-Packard (HP) board of directors who was forced to resign her job. She was at the center of a major controversy regarding her effort to investigate who from the board was leaking confidential information to the press about HP’s interest in buying another technology company‚ their corporate strategy‚ business plans‚ even their deliberations over who they would hire as CEO. This was a major issue as‚ not only was sensitive discussions of the board made public in the media‚ the level
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company secretary contents 1 Requirement to appoint a company secretary 2 The secretary and the board 5 Liabilities Core duties of a company secretary 3 4 Appointment and removal from office learning outcomes As an officer of the company at the centre of the decision-making process‚ the company secretary is in a powerful position. He should assist and guide the board in the pursuit of profit and growth‚ but should also act with integrity and independence to protect the
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India: Role of Board of Directors An independent and efficient ‘board of directors’ is the essence of a good corporate house. The core responsibility of the board of directors is to adhere to the legal procedures and regulations while directing the management‚ administering the operations of a company and working towards the interests of stakeholders. Composition of the Board It was suggested by the UK Cadbury committee that a crucial role can be played by non-executive directors. They can incorporate
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were designed to protect the company and its shareholders. The purpose of this report is not to comment on the legal or political ramifications of the case but rather to focus on the business ethics issues raised by the conduct of the company’s directors and officers‚ its accountants‚ and lawyers as it is known to date. It is meant to be a reminder that simply having a detailed code of ethics on the books (as Enron certainly did) is not enough. Organizations need to infuse ethics and integrity throughout
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Sarbanes-Oxley act in USA * One of the biggest names in financial auditing (PWC) in charge of auditing company financial reporting. * Company having a majority representation of independent directors on its Board. * Marquee names in industry and academics were present as independent directors on the Board. * Promoter (the conspirator) though in place as a chairman‚ was not a majority shareholder. This scam led to financial losses for a large number of small shareholders at the same time
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medical-device maker Stryker Corp.‚ SYK +0.06% Chairman William U. Parfet puzzled attendees when he began with a brief statement about former Chief Executive Stephen P. MacMillan‚ who was pushed out two months earlier. "Just to clarify‚ on behalf of the board of directors‚ we’d like to clearly state that Steve never violated any company policy nor any code of conduct‚" Mr. Parfet said at the meeting April 24. Executives Felled By Scandal There is a long list of corporate leaders felled by allegations of personal
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operating expenditures. • The finance director‚ Leslie Chang Li-hsien‚ entered into foreign exchange accumulators in hopes that they could make a profit by betting on the foreign currency. • Once the Australian dollar began to depreciate due to the financial crisis‚ Citic began to see an increasing losses stemming from this leveraged foreign exchange contract. • According to Yung‚ the finance director did not get authorization for the foreign exchange
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Corporate Governance Case 3 - Tyco International 1. Evaluate the corporate governance of Tyco International under Kozlowski‚ in particular the functioning of its board! Mr. Kozlowski ran a decentralized company‚ allowing for high autonomy and an entrepreneurial culture. Executives were empowered to act in the company’s best interest and received compensation based on the company’s growth targets‚ whereas non-executives got rewarded based on their individual performance. Consequently‚ it incentivized
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Whistleblower Policy HR-PO718‚ | 1.1 Sharda Centre‚ Off Karve Road‚ Erandwane‚ Pune‚ Maharashtra‚ India 411004 www.techmahindra.com Copyright © 2013‚ Tech Mahindra. All rights reserved. WHISTLEBLOWER POLICY Company-Confidential Table of Contents 1. OBJECTIVE .................................................................................................................................. 3 2. SCOPE .........................................................................................
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|R. VISHNU LAL | |[Glass ceiling syndrome (women empowerment) in industries] | |Having female representation on the board is not just the right thing to do‚ but it makes good business sense. It’s the responsibility of| |the society to ensure that women get equal chances along with men to achieve higher levels of corporate contentment. It is the need of | |the hour
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