29 Apr 2021
Australian Institute of Company Directors (AICD)
- Posted by Dejan Pekic BCom DipFP CFP GAICD, Senior Financial Planner
The Board of Directors is responsible for the overall governance, management and strategic direction of a company.
It is the companies shareholders who elect the Board of Directors to represent their interests.
The Board of Directors most important job is to hire, manage and if necessary fire the Chief Executive Officer (CEO) and the best Boards do this by using a technique called NIFO (noses in and fingers out) because it is the CEO and their senior management team that run the company.
Recent Australian court decisions have demonstrated that the Board of Directors have considerable discretion to take into account a broader set of stakeholders when making decisions on behalf of the company and this brings us to the attached guide, created by the AICD to help all organisations identify and elevate stakeholders.
Click to read.
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