A good nominating committee can save a company
Such committees work to appoint good directors to the board, and good directors will dare to ask the management tough questions.
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IT seems that corporate scandals in Japan are almost as common as the typhoons that lash the country each year.
This past July, the venerable Toshiba was right in the eye of the storm when it transpired that it had overstated its operating profits by 151.8 billion yen (S$1.8 billion) over several years. The accounting irregularities involved top-ranking management.
Independent investigators it hired said that since 2008, the three most recent chief executives had played active roles in inflating the numbers.
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