There are advantages to spelling out the nominee director's mandate in a written instrument and disclosing the terms of his appointment to the board. This would help to identify and define what the company and the nominee director regard as being in the best interests of the company.
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IT is a truism that a director is required to act in the company's best interests, but a shareholder need only look after his own.
For the nominee director, this raises a troubling conundrum. After all, he is appointed to the board by specific shareholder(s) - usually a parent company, a...