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ECON4245 Corporate Governance
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ECON4245 Corporate Governance
0 Download3 Pages / 690 Words
Course Code: ECON4245
University: University Of Oslo
MyAssignmentHelp.com is not sponsored or endorsed by this college or university
Country: Norway
Question
Finally, the Board would like some advice on the role and number of executive and non-executive directors that they should have, and the extent to which any non-executive directors need to be independent. You prepare a draft report for me covering each of the three issues mentioned above?
Answer
Introduction
Westlands Investments PLC is facing issues from various areas and it is becoming essential for the organization to manage their functions is such a manner so that they can sustain the business for the future. In the present moment, it is becoming relevant for the organization to understanding the manner the shareholders of the business should be connected and even should be managed so that they can further shift their business outside EU. Within this memorandum, the different issue will be discussed and the manner in which they can be overcome will even be discussed.
Main Issues
Since shareholders are the most important component of an organization, they obtain the potential to prevent Westlands Investments PLC’s production being shifted to Romania from UK. The local and central government will not be pleased by the decision alongside with shareholders since almost 1500 people will lose their job due to this incident. Thus, it is possible that local government will support that brief minority of shareholders, which might arise several problems for the board. Those shareholders may also propose to takes votes of other shareholders and stakeholders regarding the situations. The board can offer shareholders to make up a meeting for solving this issue.
According to the law of corporate governance code any UK company that have more than 250 UK employees in their organization structure have to publish a report annually that consist of the reason behind the difference in between salaries of chief executives and other employees. In addition to that, according to the governance code, the ration in between chief executive’s payment and an employee’s monthly payment has to be maintained at any cost. Thus, board can increase the salary of chief executives by increasing the base salary of their employees. The shareholders cannot prevent this under any circumstances.
As the non-executive directors are not connected to the business on a daily basis, it is becoming essential for the business and the executive directors to make them aware about the existing scenario of the business at regular interval. It is essential for the non-executive directors to make themselves updated with every financial movements that is happening within the business, so that they can develop their policies and strategies accordingly, which will be beneficial for the organization. IT is essential to have proper hierarchy and flow of authority, with the help of proper communication process, so that the decision-making is effective.
Conclusion
It is understood from the business that minority of the shareholders of the business may have problems regarding the issue of shifting the production of the business outside their own territory. It is essential for the business to understand that many lives are depending on their workflow and it can even take a negative turn from the side of law. But at the same time, it is essential for the business to understand the ways their employee base are retained, while keeping in mind that the flow of authority is maintained within the non-executive directors. To sustain the business, it is essential to retain their senior members of the management.
Reference List
‘Duties, Responsibilities And Liabilities Of The Board Of Directors And The Board Of Commissioners Of An Indonesian Limited Liability Company. – Corporate/Commercial Law – Indonesia’ (Mondaq.com, 2018)
‘What Are Directors’ Duties And What Can They Do To Protect Themselves In A Sale Of Company?’ (Startup Company Lawyer, 2018)
(Uk.practicallaw.thomsonreuters.com, 2018)
‘Executive Pay | Corporate Governance’ (Corporategovernanceoup.wordpress.com, 2018)
‘The UK Corporate Governance Portal – Executive Pay’ (Nortonrosefulbright.com, 2018)
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