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Thành viên HĐQT độc lập có thật sự "độc lập"?
24 Feb, 2020
Warren Buffett nói rằng không: các ủy viên này, vì muốn có thù lao hđqt và vị trí công việc, nên thường "nhẹ nhàng" với tgđ, warren ví các ủy viên này như là "chó cảnh" hơn là "chó bec-giê"...
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DealBook Briefing by Andrew Ross Sorkin
"Independent" directors, in particular, aren't serving companies well, he says.
• When it comes to acquisitions (mua bán sáp nhập) that C.E.O.s want to make, independent directors (thành viên hđqt độc lập) are supposed to (được giả định là, được cho là) check their impulses (động cơ). But corporate chiefs rarely bring in outside advisers who provide dissenting opinions (ý kiến bất đồng), so the deals usually happen. "When seeking directors, C.E.O.s don't look for pit bulls," Mr. Buffett writes. "It's the cocker spaniel (chó cảnh xpanhơn; người nịnh hót, người bợ đỡ; người khúm núm) that gets taken home."
• Too many directors covet (thèm thuồng, thèm muốn) the pay (thù lao) that comes with serving on a corporate board, playing nice with a C.E.O. to keep their jobs and get a good reference (lời giới thiệu) for more directorships. If a director pushes back on a C.E.O.'s deal proposal, "his or her candidacy will silently die."
• Directors with stakes (có cổ phần) in the company they serve, paid for with their own money and not as compensation for their role, are better incentivized to give good advice, Mr. Buffett says, even though they are often not considered independent for corporate-governance purposes.
He proposed a way for boards to get better advice when weighing a deal:
It would be an interesting exercise for a company to hire two "expert" acquisition advisers, one pro and one con, to deliver his or her views on a proposed deal to the board — with the winning adviser to receive, say, 10 times a token sum paid to the loser.
To which we say: Good luck with that.
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