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Hess added that it intended to continue strengthening the board's oversight of management.
On Tuesday a New York Times article raised questions about whether the Farmer Mac board exercised adequate oversight of management.
In other words, the oversight of management on behalf of a company's shareholders is vested in the board of directors.
In theory, the chairman can be the guardian of the board's agenda and ensure the independent oversight of management.
The board of directors has two key roles with respect to management: oversight of management and partnership with management.
This week, Mr. Icahn sued Motorola, demanding internal board documents that he believed would show that it was lax in its oversight of management.
Similar(40)
One of the most important elements in effective oversight of risk management is direct communication between members of the board and members of senior management, including senior management executives responsible for risk management.
Previous Australian research suggests patients' reluctance regarding chronic disease management by trainees may be attenuated by trainers maintaining oversight of trainees' management [ 36].
Recognizing that directors have an important role in the oversight of risk management, the board of directors should not be involved in the day-to-day activities of risk management.
And remember the structure of corporations: there are shareholders, who nominally own the corporation although now that's been rigged by management because different classes of stock and options and all that you have the management, and then you have the board of directors, who are supposed to give a sort of oversight of the management on behalf of the shareholders.
The board of GMG retains responsibility for direct oversight of the management of the Group.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com