What follows is from the pages of corporate history. Directors, think OR blink and sink
WATCH OUT. POTHOLES AHEAD
All the decisions of the MD are shot down by the Executive Chair.
An Executive Chair refuses to become Non-Executive Chair, despite failing health, and consequent irregular attendance.
Decisions at the Board level get deferred due to the absence of the Executive Chair, who wants to be a part of all decisions.
A disproportionately large presence of the parent company on the Board of a listed subsidiary prevents the latter from having meaningful discussions on strategy.
A KMP is on extension, after his superannuation, but the company is not proactively looking for a successor for him.
Executive Vice Chair has conversations with investors, without keeping the MD in loop.
A Nominee Director absents himself from meetings, to avoid being a part of a tough decision.
A Director disagrees with every resolution, thinking it to be the ultimate safeguard to any negative action in the future against her/him.
Competitor’s representative comes to AGM and asks for confidential information.