With the issue of board governance still on the minds of many shareholders and government agencies, the CIBC Presents Entrepreneurship 101 lecture on boards of directors and advisory boards was a real treat.
Moderator Ron Close assembled a panel including Bill Wignall, Kerri Golden and myself. As we were introduced to the panel we could only be impressed with the diverse level of board experience our group had from not-for-profits to TSX-listed to early stage start-ups. We had the expertise to cover the topic from all angles and help to shore up the foundation.
First on the agenda was to explain the difference between a board of directors and an advisory board. In simplistic terms, the board of directors is elected by the shareholders to enhance management’s decision making capability. Under Canadian law, the board is there to serve in the “best interests of the corporation” which is to say that they must consider the interests of a broad group of stakeholders. These stakeholders include the shareholders, the bond holders, employees, customers, regulators and non-government organizations (NGOs) to name a few.
To read the full, original article click on this link: Nailing down the boards « The RIC Blog
Author: David Pasieka
