nowa sekcja
Corporate governance
Shareholders getting back at outside
board members
Outside board members are facing a new form of harassment by controlling shareholders at some Polish corporations. One such company, canned fish maker Wilbo SA has lowered compensation for all its board members to just 500 zloty ($135) after pension funds and other minority shareholders outvoted its founders and chose two new board representatives. The two, including Raimondo Eggink, a well-known advocate of minority investors, also receive a monthly retainer of 50 zloty for the extra time spent monitoring the performance of Wilbo?s managers. By law, board members supervising daily operations at any Polish company are entitled to additional compensation reflecting their input.
Corporate lawyer Grzegorz Domański who follows the case,...
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