Dryden Corporation Case Study

860 Words 4 Pages
Jack Wright is knowledgeable about board of director meetings, being the CEO of Dryden Corporation. Even though there is no set way as to how to run a meeting, he gets the main idea on how it should be done. After sitting through his first board meeting with Mega Corporation, he noticed a huge difference on how issues were presented and discussed. I will talk about some of Mega’s main problems from the first meeting. To make meetings more productive, staff needs to provide relevant information, issues, and offers to every member of the board. This should be done well in advance so that the members can look over the information, become comfortable with the topics, and be prepared with questions for discussion. Jack didn’t receive a package …show more content…
He could participate, but was not allowed to vote. He noticed that there was a strong disagreement between the auditors and management over internal controls, specifically regarding currency hedging transactions. However, no settlement was made between the two. It’s important that the auditors and management be on the same page. According to the committee’s new disclosure requirements, Jim Bond, the CFO, used hedges that exceeded actual risks without informing the board or CEO in advance, and without getting their approval. However, the committee decided not to discipline Jim. This is not a good sign if members aren’t being punished for their …show more content…
Sam Bigger went from topic to topic without ever being interrupted. Jack had some questions, but decided to figure out later through informal discussion if anyone else shared his concerns. The board needs people who will stand up and challenge Sam, but Jack is clearly not one of those people. One of the main reasons that Jack was chosen on the board was because of his turnaround experience. He noticed a major problem with the financials that he had dealt with back at Dryden. Once again, he bit his tongue and didn’t suggest anything. If Jack isn’t going to use his skills to help the board, he is basically going to be

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