Question
Terms of appointment of some directors were coming to an end and they wished to recontest their positions for a further term. When they discovered
Terms of appointment of some directors were coming to an end and they wished to recontest their positions for a further term. When they discovered that a number of other people were also standing for election, they hired a marketing firm to devise a plan whereby they would be successful in retaining their positions. The marketing firm orchestrated a mail campaign to the company's shareholders as well as a follow- up telephone campaign urging them to vote for the incumbents. The marketing firm billed the company $50,000 for their services which the company has paid. Examine a director's duty to exercise due care and diligence. Pay particular attention to recent case law; this is a highly examinable area. Is there a difference between executive directors and non-executive directors in Corporations Law? Discuss.
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