TQ Company, a listed company, recently went into administration (it had become insolvent and was being managed by a firm of insolvency practitioners). A group of shareholders expressed the belief that it was the chairman, Miss Heike Hoiku, who was primarily to blame. Although the company’s management had made a number of strategic errors that brought about the company failure, the shareholders blamed the chairman for failing to hold senior management to account. In particular, they were angry that Miss Hoiku had not challenged chief executive Rupert Smith who was regarded by some as arrogant and domineering. Some said that Miss Hoiku was scared of Mr Smith.
Some shareholders wrote a letter to Miss Hoiku last year demanding that she hold Mr Smith to account for a number of previous strategic errors. They also asked her to explain why she had not warned of the strategic problems in her chairman’s statement in the annual report earlier in the year. In particular, they asked if she could remove Mr Smith from office for incompetence. Miss Hoiku replied saying that whilst she understood their concerns, it was difficult to remove a serving chief executive from office.
Some of the shareholders believed that Mr Smith may have performed better in his role had his reward package been better designed in the first place. There was previously a remuneration committee at TQ but when two of its four non-executive members left the company, they were not replaced and so the committee effectively collapsed.
Mr Smith was then able to propose his own remuneration package and Miss Hoiku did not feel able to refuse him.
He massively increased the proportion of the package that was basic salary and also awarded himself a new and much more expensive company car. Some shareholders regarded the car as ‘excessively’ expensive. In addition, suspecting that the company’s performance might deteriorate this year, he exercised all of his share options last year and immediately sold all of his shares in TQ Company.
It was noted that Mr Smith spent long periods of time travelling away on company business whilst less experienced directors struggled with implementing strategy at the company headquarters. This meant that operational procedures were often uncoordinated and this was one of the causes of the eventual strategic failure.
(a) Miss Hoiku stated that it was difficult to remove a serving chief executive from office.
Required:
(i) Explain the ways in which a company director can leave the service of a board. (4 marks)
(ii) Discuss Miss Hoiku’s statement that it is difficult to remove a serving chief executive from a board.
(4 marks)
(b) Assess, in the context of the case, the importance of the chairman’s statement to shareholders in TQ
Company’s annual report. (5 marks)
(c) Criticise the structure of the reward package that Mr Smith awarded himself. (4 marks)
(d) Criticise Miss Hoiku’s performance as chairman of TQ Company. (8 marks)
第1题:
The finance director of Blod Co, Uma Thorton, has requested that your firm type the financial statements in the form
to be presented to shareholders at the forthcoming company general meeting. Uma has also commented that the
previous auditors did not use a liability disclaimer in their audit report, and would like more information about the use
of liability disclaimer paragraphs.
Required:
(b) Discuss the ethical issues raised by the request for your firm to type the financial statements of Blod Co.
(3 marks)
第2题:
-But then we'll have to accept a Board of Directors chosen by our stockholders. Wouldn't that limit us in many ways? -Certainly. But if you consider the massive capital investment that we'll receive, you'll understand that this could take our company ------ .
:A from being a big firm to being one of the medium-tier players ;
B from being a medium-tier firm to being one of the big players ;
C from being a medium-tier firm to being one of the small players
第3题:
听力原文:The owners of limited companies are people who have bought shares in the company.
(6)
A.The shareholders are the owners of limited companies.
B.Shareholders deposit their money in the limited companies.
C.The shareholders can sell shares of limited companies to the public.
D.Shareholders of limited companies are able to make profits continuously.
第4题:
The company_______the chairman’s new plan.
A、adopted
B、adapted
C、carried
D、elected
第5题:
第6题:
You work as a network exchange administrator at company.com.the company.com network currently consists of a single active directory forest containing a single domain named company.com.the company.com organization makes use of microsoft exchange server 2010 as their messaging solution.company.com has recently added a distribution group named king distribute.during the course of the business week you receive instruction from company.com to ensure that a user named rory allen is able to view and approve the messages sent to king distribute whilst also making sure that rory allen cannot make any changes to the membership of king distribute.what should you do?()
第7题:
A sportswear company recently had a visit from a sales rep of a well-known computer vendor. The sales rep gave a presentation on the advantages of VPAR and NPAR. Which of the following companies made this presentation?()
第8题:
You work as a network Exchange administrator at Company.com.Company.com has its headquarters located in Miami and branch office located in Toronto.The Company.com network currently consists of a single Active Directory forest containing a single domain named Company.com.The Company.com organization makes use of Microsoft Exchange Server 2010 as their messaging solution.Company.com has recently made the Toronto office administrators members of a custom management role group which is configured to allow members to manage recipients.During your routine maintenance you discover that Toronto office administrators are able to manage recipients in both offices.During the course of the business week you receive instruction from Company.com to ensure that the Toronto office administrators are able to manage recipients in the Toronto office only. What should you do?()
第9题:
You are a security administrator for your company. The network consists of three Active Directory domains. All Active Directory domains are running at a Windows Server 2003 mode functionality level. Employees in the editorial department of your company need access to resources on file servers that are in each of the Active Directory domains. Each Active Directory domain in the company contains at least one editorial department employee user account. You need to create a single group named Company Editors that contains all editorial department employee user accounts and that has access to the resources on file server computers. What should you do?()
第10题:
Her company recently went out of business.
She wants to judge the quality of the product.
Her warehouse does not have any more space.
She wants to terminate the transaction with the company.
第11题:
in name of
on behalf of
at the name of
on the behalf of
第12题:
第13题:
A It's something we should give serious consideration to ;
B It will still be a privately held company ;
C It will become a privately held company
第14题:
A、with
B、on
C、in
D、at
第15题:
听力原文:Although the said company is a sun-rising firm, its accounting management should be improved before the loan is extended to it.
(9)
A.The company is a sun-rising firm so it is worthwhile to extend the loan.
B.The company has some accounting problems, some improvement is needed.
C.The company is short of funds because it is sun-rising.
D.The company has some accounting problems because it is sun-rising.
第16题:
第17题:
Your firm has been recommended to us by AMK company, () we have done business for many years.
第18题:
Which first-hop redundancy solution listed would supply Company clients with MAC address0000.0C07.AC0A for group 10 in response to an ARP request for a default gateway?()
第19题:
You need to recommend a strategy for managing the domain controllers in the branch offices thatmeets the company security requirements.What should you include in the recommendation?()
第20题:
You work as a network Exchange administrator at Company.com.The Company.com network currently consists of a single Active Directory forest containing a single domain named Company.com.The Company.com organization makes use of Microsoft Exchange Server 2010 as their messaging solution.Company.com has recently added a distribution group named KingDistribute.During the course of the business week you receive instruction from Company.com to ensure that a user named Dean Austin is able to add and remove members from KingDistribute whilst ensuring you prevent Dean Austin from modifying all other groups. What should you do?()
第21题:
You work as a network Exchange administrator at Company.com.The Company.com network currently consists of a single Active Directory forest containing a single domain named Company.com.The Company.com organization makes use of Microsoft Exchange Server 2010 as their messaging solution.Company.com has recently created a distribution group for the network users.During the course of the business week you receive instruction from Company.com to ensure that the newly added users are able to add their mailboxes to the distribution group.What should you do?()
第22题:
第23题:
whose
which
whom
who