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Essay On Board Of Directors

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The board of directors is ultimately responsible for the company’s business affairs and governance. One of the element of corporate governance is good board practice where roles and authorities of board of directors must clearly define and board of directors must understand their roles and responsibilities before being appointed as a member of the Board. The role and responsibilities of the board of director must be comply with the four pillars of corporate governance. Four pillar of corporate governance are accountability, fairness, transparency and independence. One of the responsibility of the Datuk Abdul Farid Alias as the Executive Director of Maybank is to mapping the medium for the long term plans for Board approval and is accountable …show more content…

Board of Maybank will created the relations with shareholders through the general meeting that they will held to communicate with investors to encourage their participations. It shows that, Maybank is complied with the fairness principle where they responsibility are to protect shareholders right and treat all the shareholders including minorities in equally. Fairness is important to the company in treating shareholders to avoid unfairness problems because it shows how the company directed and controlled as stated in the Malaysian Code of Corporate Governance …show more content…

According to Datuk Abdul Farid Alias, “as a Board member, his function also be as the intermediary between the Board and senior management”. From this statement, it shows that Board of Director of Maybank are comply with the last pillar of corporate governance which is independence. Independence is important to ensure the conflict of interest never happen in the operation and relationship with all members of Maybank. It is a fiduciary duty as a Board of Directors to avoid conflict of interest. All Board of Director must act as an independence directors and advisers where there are free from influence of each other. To be an independent director, all members of director should not have any relationship with the company. As we can see, all of the Board of Director of Maybank, did not have any family relationship with any directors and

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