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Home > Investment Markets: Regulation > Corporate governance > Board of directors > Duties of directors

CORPORATE GOVERNANCE

1. Corporate governance

2. Structure of a company

3. Corporate management

4. Board of directors

Duties of directors

Independent directors

Declaration of
independence

Board committees

5. Shareholders

6. Governance and investment

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Duties of directors

The duties of directors are set by the corporation's bylaws and are also subject to outside laws and regulations. In general the board is responsible for the following:

Hiring, supervising, and, if necessary, firing the chief executive officer (CEO)

Approving major strategic decisions

Meeting with shareholders

Setting executive compensation

Making decisions about mergers, acquisitions, and takeover bids

Nominating board candidates

Determining procedures and responsibilities

Supervising financial reporting and audits

Taking action if the corporation fails

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