How company boards should handle internal investigations

SourceGulf Business
SectorEconomy
CountryGulf

Surprises thrown up in corporate boards are aplenty across the world. And the GCC is no exception even with a skew of reforms being proposed. Markets other than the UAE are still trying to catch up with the best practices in governance even as we witness many governance issues everywhere.

We may not always see a BR Shetty and NMC kind of saga, but having children of promoters taking board roles continue unabated. Take for instance, the NMC imbroglio with the founder chairman taking a humiliating exit after the board investigation unearthed under-reporting of liabilities to the tine of billions. He had grandiose plans for making the most expensive movie in the subcontinent and just disappeared from the face of all possible media and even legal eyes. The question is whether the shareholders had a chance to hold other board members responsible for the disaster the founder had caused. So what if your company is facing some serious allegations...read more...