Frontera Energy Corp T.FEC

What are the fiduciary duties of a Chairman of the Board?

[kcac1]

I would say a good case could be made for abusing/violating all 4. Particularly #2 and CGX. Who is supposed to enforce these duties, with 3 Canadian companies involved, when counting Catalyst?

"The chairman of the board of a publicly traded company has several key fiduciary duties, which are essential for ensuring ethical governance and protecting the interests of shareholders. These duties include:

1. Duty of Care: The chairman must make informed and prudent decisions, acting with the same care that a reasonably prudent person would use in similar circumstances. This involves staying well-informed about the company’s operations and financial status¹.

2. Duty of Loyalty: The chairman must prioritize the interests of the company and its shareholders above personal interests. This means avoiding conflicts of interest and not using their position for personal gain².

3. Duty of Obedience: The chairman must ensure that the company complies with all applicable laws, regulations, and corporate policies. This includes adhering to the company’s charter and bylaws¹.

4. Duty to Act in Good Faith: The chairman must act honestly and with integrity, making decisions that they believe are in the best interests of the company and its shareholders³.

These duties form the foundation of good corporate governance and help maintain trust and stability within the organization."