Your first board meeting
Whether it's a fantastic experience or an unmitigated disaster depends on you.
NEW directorships are nerve-racking enough for the experienced, never mind a first-appointment novice. No one wants to look stupid or "lose face" at the first board meeting. Nerves are natural and the best antidote is proper preparation.
Pre-meeting: housekeeping and homework
New-director formalities include observing due process: signing your "Consent To Act" form as director and filing your appointment with the relevant authorities. This may sound obvious but mistakes do happen. You also have to give notice of your interests in transactions, shareholdings, and your other boards and appointments in accordance with Section 156 of the Companies Act and other regulations.
Additionally, ensure that you have received a formal letter of appointment stating your duties, obligations and basis of remuneration, and adequate professio…
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
UOB Kay Hian says ‘disadvantageous’ to reveal details of key management’s remuneration
Deutsche Bank has cut dozens in Asia private banking overhaul
Middle East violence heightens market fears of rate hikes, inflation
Tokyo's Nikkei drops more than 1,000 points, most in 3 years
Cordlife calls for trading halt after shares sink to all-time low, pending announcement
Gazelle Ventures makes cash offer for No Signboard shares at S$0.0021 apiece