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Online accessibility: Board members can review documents or communicate with other members at any time, even when they are on the road. Offline accessibility: Board members can download documents to their computer for offline review. However, board portals ensure that downloaded documents still support the same strict level of security.
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An outside director is a member of the board who is not otherwise employed by or engaged with the organization, and does not represent any of its stakeholders. A typical example is a director who is president of a firm in a different industry. [11] Outside directors are not employees of the company or affiliated with it in any other way.
The duty of directors to produce a directors' report once a year is found in the Companies Act 2006 section 415. Under section 416, the contents must include the directors' names and the company's principal activities. The critical requirement is found in section 417(1). A business review must be carried out, though this is only for large ...
The company's board of directors agreed to be sold to Symphony Technology Group, but following a hostile bid from Open Text, [6] the board negotiated a deal with its rival and accepted an all-cash US$489 million buy-out from Open Text. [7] Following the close of the deal in October, Open Text announced a 15% global workforce reduction. [8]
NACD is the independent, trusted voice of the corporate director, helping directors achieve better governance and better business. [18] It provides educational advocacy and is a valuable resources to policymakers and regulators that have a role in helping corporate directors achieve good governance and create trust in capital markets.
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BoardSource is based in Washington, D.C., and has an annual budget in fiscal year 2013 of approximately $6 million.It maintains a staff of more than 40 employees. In addition, the organization has an affiliated pool of associates [5] who conduct consulting and training engagements around the country on behalf of the organization.