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Main Roles and responsibilities of those involved in LTD’s WILF: The meaning and responsibilities of: 1. CEO 2. Board of directors 3. Chief executive chair.

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Presentation on theme: "Main Roles and responsibilities of those involved in LTD’s WILF: The meaning and responsibilities of: 1. CEO 2. Board of directors 3. Chief executive chair."— Presentation transcript:

1 Main Roles and responsibilities of those involved in LTD’s WILF: The meaning and responsibilities of: 1. CEO 2. Board of directors 3. Chief executive chair

2 Pair activity: Use the case study to answer the following questions: 1. Who are the owners of WDP? 2. Who are the directors of WDP? 3. Who the non-executive chief of WDP is? 4. Who the board of directors of WDP might be?

3 Who are the owners of WDP? WDP is owned by its shareholders which are currently Tom, Dee and members of their families (including Ali’s as they all invested capital into the business).

4 Who are the directors of WDP? The chief executive officers (CEO) of WDP are Tom and Dee. Roles and responsibilities of Tom and Dee: 1. Act on behalf of the shareholders 2. Run the day to day affairs of WDP 3. Provide reports to shareholders about WDP performance, future plans and strategies. 4. Prepare the articles and memorandum of association. The objectives of the company are defined in the Memorandum of Association and regulations are laid out in the Articles of Association. 5. Hold yearly board meetings

5 What is John’s position with WDP? Johns position within WDP is that of non- executive chair. His main roles and responsibilities are to: 1. Work with Tom and Dee to develop an appropriate schedule and agendas for board meetings. 2. Chairing all meetings of the Board 3. Address all issues relating to the performance of individual directors Tom and Dee.

6 Who are the board of directors? The board of directors of WDP will be made up of Tom, Dee, John and shareholders. The members of the board (other than Tom, Dee and John) will be decided by the shareholders voting. The main roles and responsibilities of the board of directors: 1. To work with the CEO’s (Tom and Dee) to achieve the same things.

7 Communication between the board of directors and shareholders 1. Communication between the board and shareholders happens mainly through yearly meeting called annual general meetings. 2. The board meet monthly to discuss WDP performance.

8 Exam question 1. Explain how limited liability protects the shareholders of WebDesPix Ltd. (4marks) 2. Why is this protection of shareholders important for WebDesPix Ltd? Homework: Explain the main responsibilities of Tom and Dee within WDP (4 marks)

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