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Corporate Governance of James Hardie

Essay by   •  September 2, 2011  •  Essay  •  263 Words (2 Pages)  •  1,100 Views

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Corporate governance of James Hardie:

James Hardie operates under the regulatory requirements of numerous jurisdiction and organizations, including the Dutch Authority Financial Markets, The ASX, ASIC, the NYSE, the US SEC and various other rulemaking bodies.

James Hardie's corporate governance framework is scrutinized frequently updated and as appropriate to reflect what we believe are our and our stakeholder's interests, variations in law and current best practices.

Its corporate governance framework involves a variety of procedures and policies considered to provide the Board with suitable assurance regarding the operations and governance of the company with the intention of protecting shareholder's value.

Definition of Corporate governance:

Corporate governance is a term that refers broadly to the rules, processes, or laws by which businesses are operated, regulated, and controlled. The term can refer to internal factors defined by the officers, stockholders or constitution of a corporation, as well as to external forces such as consumer groups, clients, and government regulations.

Lay solid foundations for management and oversight:

The Board's role is to govern the company rather than to manage it. The Directors must act in the best interests of the company to govern it properly. It is the duty of senior management to manage the company in accordance with the direction and delegations of the Board and the reasonability of the Board to oversight the activities of the management in carrying out these assigned duties.

Structure the Board to add value:

The Board has been formed so that it has an effective mix of

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