COMPANY PROFILE Costco Wholesale Corporation REFERENCE CODE: 7EE0FB19-6C6E-4865-AFD1-D601275DC508 PUBLICATION DATE: 30 Aug 2012 www.marketline.com COPYRIGHT MARKETLINE. THIS CONTENT IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIED OR DISTRIBUTED. Costco Wholesale Corporation TABLE OF CONTENTS TABLE OF CONTENTS Company Overview..............................................................................................3 Key Facts.................................................
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DUTIES OF DIRECTORS Directors of a company normally have exclusive power to manage the company’s business and exercise its powers. At common law‚ the duties were owed to the company‚ to employees‚ to individual shareholders and creditors. 1.0 Duties of Directors to the company It is convenient to categorise the duties of directors into fiduciary duties which arise because they are quasi-trustees of the assets of the company. The word ‘fiduciary’ refers to trust and confidence. ‘A fiduciary is
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Hampton Park Pty Ltd (HP) Synopsis. In the case study of Hampton Park Pty Ltd (HP) has four directors; William (Managing Director); Susan‚ Jack and Gail (Non-executive directors). As HP’s financial position begins to deteriorate‚ George‚ the Chief Financial Officer of the company advises the accounts still show a profit and the company would have a solid base to pay out a dividend to its members. In July 2010cHP’s financial state worsens however George declares a technical profit and advises HP
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boards of directors. 1 I would require the board of directors degree of involvement in strategic management be active participation (approves‚ questions and makes final decisions on mission‚ strategy‚ policies and objectives) or be that of a catalyst (takes the leading role in establishing and modifying the mission‚ objectives‚ strategies and policies). This would ensure that the board of directors takes a hands on approach (Wheelen‚ p. 47). 2 I would require the board of directors to set
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what have Don breached his directors’ duties under the act in good faith and best interest of the company as well as disclosure personal interest. The second issue is possible remedies for Bryan while he has been conducted unfair and oppressive. ISSUE 1: WHAT HAS DON BREACHED? Fiduciary duties to disclose personal interests Directors are under both fiduciary and statutory duties to avoid conflicts between their personal interests and the interests of the company. The director is to declare the “nature
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the board has two major jobs: to monitoring the decision making of management as a representative of shareholders and to initiate and implement of decisions. The board of directors is a major mechanisms used to solve agency problem‚ which arises when the management and ownership is separated in the company. The board of directors is an internal control mechanism to make sure the company’s decision making is align with the interest of shareholders. In US and UK‚ in order to improve the effectiveness
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GUIDELINES FOR DIRECTORS’ REMUNERATION The board of directors has both executive and non executive directors. Executive directors have both executive and board duties to perform while non executive directors have only board responsibilities. Therefore both types of directors vary in the responsibilities and authority they have in the company affairs. Thus the non executive directors devote very little time to company affairs ( only attend board meetings‚ committee meetings of which they are
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ART DIRECTOR The art director is in charge of the overall visual appearance and how it communicates visually‚ stimulates moods‚ contrasts features‚ and psychologically appeals to a target audience. The art director makes decisions about visual elements used‚ what artistic style to use‚ and when to use motion. An advertising art director is not necessarily the head of an art department. In modern advertising practice‚ an art director typically works in tandem with a copywriter. The team usually
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and suffers no harm‚ then that protects shareholders and makes sure their investments are secure. It also protects the creditors‚ who are more likely to get paid. The Directors owe their duties to the legal entity- the company. This is intended as a protective requirement for both shareholders and creditors. When the director pays back or compensates the company‚ the creditors have a pool for recovery and the shareholders do not count the loss directly. The person who takes the case for a
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Introduction The board is made up of individual men and women (the "directors") who are elected by the shareholders for multiple-year terms. Many companies operate on a rotating system so that only a fraction of the directors are up for election each year; this makes it much more difficult for a complete board change to take place due to a hostile takeover. In most cases‚ directors either‚ 1.) Have a vested interest in the company‚ 2.) Work in the upper management of
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