Solution

Solution- Facilitate withstanding and countering pressures from owners. Fulfil a useful role in succession planning. On issues such as strategy, performance, risk management, resources, key appointments and standards of conduct he or she must support in gaining independent judgment to bear the board’s deliberations. While evaluating the performance of the board and management of the company, he or she needs to bring an objective view. Scrutinizing, monitoring and reporting management’s performance regarding goals and objectives agreed in the board meetings. Safeguard the interests of all stakeholders, particularly the minority shareholders. Balance the conflicting interest of the stakeholders. Check on the integrity of financial information and ensure financial controls and systems of risk management are in operation. In situations of conflict between management and shareholder’s interest, aim towards the solutions which are in the best interest of the company. Establishing suitable levels of remuneration of executive directors, key managerial personnel, and senior management.