Where were the directors?

  • Business
  • Monday, 19 May 2003

THE acknowledgement given to the “directors” in charting a company’s future is beyond dispute, but what goes on behind the closed doors of the corporate boardroom is a mystery to most of us.  

What do corporate boards actually do from day to day? In today’s complex and volatile business environment where news of corporate disasters is all too commonplace, shareholders, the media and general public are increasingly asking: “Where were the directors?” 

At this current trend of sharp scrutiny and far tighter board accountability, Directors & Corporate OfficersCase Summaries is a timely joint-publication by The Malaysian Association of the Institute of Char- tered Secretaries and Administrators (Maicsa) and CCH Asia Pte Ltd. 

It offers a collection of case summaries on various forms of litigation dating back as far as the 1950s in- volving directors, corporate officers and shareholders of a company. 

It details case study summaries on various areas of concern governing directors as well as other officers and shareholders. Cases involving directors' appointment and qualification, vacation of office, their rights, powers and remuneration, and duties are covered in Part A. 

Part B lists cases covering company secretaries, receivers & managers, liquidators, senior executives, other officers and finally, shareholders. 

Though not conclusive, it offers the governing board of every organisation a handy reference book which is full of facts, gives a concise overview of the issues in dispute, a historic appeal and the binding decision of each case. 

Light reading this isn’t, but for those serious about seeking clarity to ensure accountable governance while at the same time appropriately empowering management, this is an excellent resource. – Linda Khoo  

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