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张远-精一天使公社 · 2023年02月09日

B为啥不对

NO.PZ2022120702000018

问题如下:

CBT’s Annual General Meeting (AGM) is two months away. Patrick Weeze is a portfolio manager who owns a significant number of CBT shares in his portfolio. His fund is a concentrated portfolio with high idiosyncratic risk and, as a result, Patrick believes that a detailed analysis of the governance of each of his portfolio holdings is paramount to its long-term performance. He reviews the relevant documentation regarding CBT’s AGM and notes the following:

− CBT currently has 10 individuals sitting on its board, 3 of whom are independent. The Chairman is the former CEO who stepped down last year.

Patrick believes that the Chair cannot be considered as an independent member of the board. He schedules an engagement meeting with the Chair to discuss the matter.

What could be the most favourable outcome from a governance perspective?

选项:

A.The Chair steps down and the CEO assumes the chairmanship, and one of the independent directors becomes the lead independent director.

B.The Chair steps down and remains on the board, and one of the existing independent directors is elected Chair.

C.An additional independent director is added to the board to increase the level of independence.

D.The Chair steps down from the Chair role, and a newly elected independent director is appointed Chair.

解释:

CBT目前有10位董事,其中3位是独立董事。董事会主席是去年离职的前任首席执行官。Patrick认为,主席不能被视为董事会的独立成员。他安排与主席开会讨论此事。从治理的角度来看,最有利的结果就是D选项,董事会主席辞去其职务,新选出的独立董事被任命为董事长,保证董事会主席的独立性。

不也是主席下台,新的独立成员上位?

1 个答案
已采纳答案

王岑 · 2023年02月10日

嗨,从没放弃的小努力你好:


同学你好,

我们教材中写过,有下列几种情况的,董事会的独立性会受到破坏。B选项说到的是,之前董事会Chair还留在董事会当中,而新选择一位现有的董事会成员做Chair。这个显然不如选择一个新的独立董事做为chair的独立性更好。但值得注意的是,并不是一个人的独立性不够,就不能留在董事会里,有的时候非独立董事可能会有一些对公司有利的专业知识。我们做这种题目的时候,就是根据下列标准做比较,选择独立性相对而言最好的那个。

----------------------------------------------
虽然现在很辛苦,但努力过的感觉真的很好,加油!

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