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An annual general meeting (AGM, also known as the annual meeting) is a meeting of the general membership of an organization. These organizations include membership associations and companies with shareholders. These meetings may be required by law or by the constitution, charter, or by-laws governing the body. The meetings are held to conduct ...
Barron v Potter [1914] 1 Ch 895 is a UK company law case, concerning the balance of power between the board of directors and the general meeting.It stands for the principle that when the board is incapable of taking action, power to conduct the company's affairs will revert to the general meeting.
Until the end of the 19th century, it seems to have been generally assumed that the general meeting (of all shareholders) was the supreme organ of a company, and that the board of directors merely acted as an agent of the company subject to the control of the shareholders in general meeting. [28]
In some settings, this is known as a special general meeting or an emergency general meeting. In the United Kingdom, the directors of a public company must convene an EGM if the net assets fall to half or less of the amount of its called-up share capital (section 656 of the Companies Act 2006). Shareholders who meet certain criteria can ...
A general assembly or general meeting is a meeting of all the members of an organization or shareholders of a company. Specific examples of general assembly include:
Kickoff meeting, the first meeting with a project team and the client of the project to discuss the role of each team-member [5] Town hall meeting, an informal public gathering. Work meeting, which produces a product or intangible result such as a decision; [6] compare working group. Board meeting, a meeting of the board of directors of an ...
Organizations with a large board of directors (such as international labor unions, large corporations with thousands of stockholders or national and international organizations) may have a smaller body of the board, called an executive committee, to handle its business. The executive committee may function more like a board than an actual ...
Fortune 500 directors are estimated to spend 4.4 hours per week on board duties, and median compensation was $212,512 in 2010. The board sets corporate strategy, makes major decisions such as major acquisitions, [24] and hires, evaluates, and fires the top-level manager (chief executive officer or CEO). The CEO typically hires other positions.