Corporations
In a publicly held company, directors are elected to represent and are legally obligated to represent the interests of the owners of the company—the shareholders/stockholders. In this capacity they establish policies and make decisions on issues such as whether there is dividend and how much it is, stock options distributed to employees, and the hiring/firing and compensation of upper management.
Read more about this topic: Board Of Directors
Famous quotes containing the word corporations:
“You may cut off the heads of every rich man now living—of every statesman—every literary, and every scientific authority, without in the least changing the social situation. Artists, of course, disappeared long ago as social forces. So did the church. Corporations are not elevators, but levellers, as I see them.”
—Henry Brooks Adams (1838–1918)
“I cannot believe that our factory system is the best mode by which men may get clothing. The condition of the operatives is becoming every day more like that of the English; and it cannot be wondered at, since, as far as I have heard or observed, the principal object is, not that mankind may be well and honestly clad, but, unquestionably, that the corporations may be enriched.”
—Henry David Thoreau (1817–1862)
“Mischief springs from the power which the moneyed interest derives from a paper currency which they are able to control, from the multitude of corporations with exclusive privileges ... which are employed altogether for their benefit.”
—Andrew Jackson (1767–1845)