Business Governance 1 Chapter 1 Maximizing Success through Professional Family Business Governance 3 Alexander Koeberle-Schmid Interview: Dr. Jürgen Heraeus, chairman, Heraeus Holding, Germany 3 Family enterprises are special 7 Sound family business governance 9 Best-practice recommendations 16 Important definitions 17 Chapter 2 Challenges to the Governance of the Family Enterprise 20 Ernesto J. Poza Interview: Mr. Bruce T. Halle, chairman, Discount Tire, USA 20 Family business governance is critically
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ANNUAL REPORT CONTENTS CORPORATE OVERVIEW 2 3 4 6 8 12 About SapuraKencana Petroleum Berhad Our Vision Our Core Businesses Health, Safety and Environment Global Presence Corporate Information GOVERNANCE 90 Statement on Corporate Governance 102 Report of the Audit Committee 105 Statement on Risk Management and Internal Control 107 Additional Compliance Information 109 Statement on Directors’ Responsibilities 110 Corporate Responsibility 116 Highlights of Events CORPORATE DISCLOSURES 126 Financial
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The President & CEO: The President & CEO is the legal representative of their company and is in charge of their daily operations in accordance with the objectives, plans, resolutions and decisions of the Board of Management and with the corporate charter, prevailing laws and regulations. They are legally accountable for the performance of their assigned tasks. Vice Presidents and Chief Accountant: shall be appointed,
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voting on his or her own compensation. Although a board is required by legislation to have some members who are independent of management, the chair can influence the activities of the board, which allows for abuse of the chair position. Corporate Governance One of the board's main roles is to monitor the operations of the company and to ensure that it is being run in conjunction with the mandate of the company and the will of the shareholders. As the CEO is the management position responsible
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Contents Operational Review 8 Our Business Priorities 10 Grow the Heineken® brand 11 Consumer-inspired, customeroriented and brand-led Africa Middle East 18 Americas Asia Pacific 21 Western Europe 27 Financial Review Corporate Governance Statement 12 Capture the opportunities in emerging markets Report of the Supervisory Board 43 To the Shareholders 13 Leverage the benefits of HEINEKEN’s global scale 47 14 Drive personal leadership 15 Embed
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presentation in its (i) Background; (ii) Current Strategic Position; (iii) Future Strategic Moves and; (iv) Alternatives for the company´s future. *Before we continue, we want to show you this video….. FURTHERMORE, THIS IS A COMPANY WITH STRONG CORPORATE GOVERNANCE STANDARDS, FOCUSING ON ENSURE FAIRNESS FOR EVERY STAKEHOLDER; CUSTOMERS; INVESTORS; VENDOR-PARTNERS, THE COMMUNITY, AND THE GOVERNMENTS OF THE COUNTRIES IN WHICH THEY OPERATE. WE ARE TALKING ABOUT A COMPANY THAT FOCUSES ON SUSTAINABILITY
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Case Study The Rise and Fall of Worldcom This case study is about Bernard Ebbers CEO of Worldcom, Inc. and Scott Sullivan CFO of Worldcom, Inc. once they were boosted the company growth and they got awards. Later on they made frauds by using their influential tactics on employees and company’s board. Those are Assertiveness: it involves applying legitimate and coercive power to influence others by threatening or giving punishment. This tactic was used by sullivans office where they berated and
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3:00 p.m. N I S S A N E L G R A N D I N F I N I T I F X 3 7 R E N A U L T M E G A N E R S CONTENTS 02 03 05 09 10 14 17 25 27 28 31 Corporate Information Business Divisions Report of the Board of Directors 8 Years Financial Highlights Profile of Directors Corporate Social Responsibility Report Corporate Governance Statement Internal Control Statement Other Statements and Disclosures Audit Committee Report Daily Share Price & Volume Traded on Bursa Malaysia Securities Berhad
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Scandal facts: In September, 2003, it was disclosed that the compensation of Grasso (CEO & Chairman of NYSE) was approx. $190 mn. There was a hue and cry from various stakeholders about the excessive compensation offered to Grasso. As a result, Grasso had to step down from the CEO & chairman position. After Grasso’s departure, diverse stakeholders (media, activist investors) were pressurizing Langoneto step down as well, since he was alleged as the ‘mastermind’ behind Grasso’s high pay package
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handled, but it should not get directly involved. 2. The CEO must make sure that the COO never again ignores a complaint of this type. Chip has to tell Harry: “Next time there’s a whistle-blower event, you must follow the procedures outlined by corporate policy, regardless of what your workload is like. You must set the proper example for the organization. 3.
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