...doesn't the BOD bear a fiduciary responsibility to the shareholders?
Well, let's see
(you threw in a really BIG word there)...
FIDUCIARY:
1. Of or relating to a holding of something in trust for another.
2. Of or consisting of fiat money.
3. One, such as an agent of a principal or a company director, that stands in a special relation of trust, confidence, or responsibility in certain obligations to others.
YEP! That sure sounds like the BOD's responsibility to me.
If the company's employees do something, uh, "shady", who bears ultimate responsibility?
Well, some people would say, "It's all their mothers (and fathers) fault, because they just didn't raise them right." While others might say, "It's all society's fault." Me...I might say something like, "They're just lying, cheating, rotten, stinking, thieving creeps infesting the earth, and completely ruining the human gene pool. They should all burn in H*ll for all eternity."
I certainly don't mean that in a bad way, of course...but only in the Biblical sense. :)
Roger
PS. And then again, the lawyers and insurance companies might very well have completely different opinions...so please do your own DD. |
