However he did not show up but still his name was up for the AGM to consider his re-election. Before the voting, I raised my objections as to his lack of commitment and his failure to fulfill his fiduciary duty, and his re-election was expectantly rejected by the shareholders. I am thankful to my relatives who mostly are unschooled in corporate governance, but knew what integrity is all about.
Another aspect of corporate governance which fortunately is present in the AGM is that I had picked my cousin who is a successful businessman and well educated and most important of all is his trustworthiness in managing the company as Chairman. Without this essential ingredient he would have just followed the wind and the whims of certain quarters who were merely intent in squeezing the company's reserves. May the next AGM brings forth better returns for all and every member of the Family Company.
4 comments:
You have been away more thn one month. It is nice to see your return. And straight away talk about AGM, good governance etc. Hope the personal matters, for which you took leave of absence,have been resolved. Salaam to you and family.
Pakcik,
I am grateful to Allah that I am able to continue meeting friends again in blogvilla. Thanks for your kind thoughts. Just to let you know that Hj Mustapha had passed away slightly less than a month ago at his son's house. Salam to you and Makcik.
Fiduciary duties - first time i heard the term which sent me scrambling for the dictionary. With ipad that's easy, just check Webword. Well, Akhi, i see that you're well versed in corporate governance. Must seek your advice sometimes. Salam.
Akhi,
Thanks for the tip on using the iPad. I am also learning the ropes from my cousin. You might know his late father, Arwah Cikgu Ismail also from Kampong Godang, UB.
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