Meridian Mining UK Societas T.MNO

Back to basics

[Grimey2]

What is an Independent Director? 

An independent director is a director who is not an employee of the company and doesn’t hold a personal stake in any of its business (e.g., stock ownership). Instead, these directors serve on boards for many different reasons, often to provide leadership, improve strategy and governance, help with succession planning, and serve as liaisons between shareholders and management. 

Independent directors don’t have a conflict of interest with the companies where they serve. They bring unique expertise, perspective, and background to the boardroom table. And most importantly, they help maintain an objective viewpoint during decision-making. 

 

 

Independent Director Roles and Responsibilities 

Independent directors are essentially outside directors who play an important role in corporate governance. They provide unbiased advice, perspective, and judgment to the board of directors. They’re also responsible for evaluating the strength of their board, especially monitoring conflicts of interest and complying with corporate governance guidelines. 

While they’re a key part of the company’s board of directors, they bring a unique perspective, mainly because they have no material relationship with the company. 

The independent directors’ duties and responsibilities typically include: 

• On matters such as finances, strategy, performance, risk management, and key appointments, they must give independent judgment to the board. 
• Play an active role in succession-planning. 
• Protect the interests of all stakeholders. 
• Balance the interests of all stakeholders while making deliberations. 
• Set appropriate remuneration levels for the company’s top executives and managers. 
• Provide an objective perspective and opinion regarding the organization’s status and key corporate decisions. 
• Monitor the integrity of financial information and risk management, ensuring relevant controls are in place. 
• Report unethical behavior, fraud, or violations of company policies. 

So some of these directors have in the past helped Sentient take these companiesprivate   These directors are not independent . This is a huge conflict of interest.These things have to be looked at.