Companies need to reset their mission so that profitability is a means to an end - the organisation’s social purpose - not an end in itself is essential.
A new study involving extensive interviews with dozens of directors shows that they see their roles as more about supporting executives, not challenging them.
The state capture inquiry shows that South Africa’s parliament needs to urgently end the uncertainty about whether or not shadow directors are governed by the Companies Act.
A company director these days is often a skilled professional packing a lot of experience, but these very same factors will count against a director when a court decides a delinquency application.
The corporate sector owes David Murray a debt of gratitude for starting a debate about ASX governance rules that lead boards to delegate matters that are properly their responsibility.
Evidence to the Banking Royal Commission points to the systemic failings of corporate governance built on the idea of shareholder primacy. It’s time to rethink the unitary board system for a start.