simon leagreet, the chairperson and ceo of l-eva industries, inc., has long been the major power at l-eva. a majority of the directors are concerned that, while mr. leagreet has been responsible for the firm's earning above-average returns, he has been displaying a tendency toward personal extravagance at the firm's expense. in order to limit mr. leagreet's power, the board of directors plans to:

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04-11-2022
Business

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simon leagreet, the chairperson and ceo of l-eva industries, inc., has long been the major power at l-eva. a majority of the directors are concerned that, while mr. leagreet has been responsible for the firm's earning above-average returns, he has been displaying a tendency toward personal extravagance at the firm's expense. in order to limit mr. leagreet's power, the board of directors plans to:

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tutorconsortium117 tutorconsortium117 · Answer 1 · 2022-11-08T01:57:27-05:00

Leagreet has been accountable for the company's above-average returns while also exhibiting a propensity for personal excess at the expense of the company. The board of directors intends to name a different person as board chair in order to restrict Mr. Leagreet's authority.

Who is in charge of an organization's governance?

The governance of companies is the responsibility of the boards of directors. The shareholders' responsibility in corporate governance is to select the directors and auditors, as well as to ensure that a suitable governance framework is in place. There are various corporate governance processes or variables, but the following ones are typically taken into account: board composition, board committees, CEO duality or separation, board meetings, and the degree of shareholder concentration. The CEO is ultimately in charge of the company's operations and approves all contracts and other legally binding actions on the company's behalf. The board of directors of the company receives reports from the CEO.

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