LETTER: Board members must be free of any conflict of interest
The recent high court judgment declaring Dudu Myeni to be a “delinquent director” was a timely reminder to many of us that we assume onerous fiduciary responsibilities when we volunteer to accept positions as trustees, directors and curators. These fiduciary duties require of us that there is no conflict of interest — real or perceived — with our personal interests or with our responsibilities to any other person or organisation.
It is not only incumbent on all directors of all companies to ensure they do not accept appointment as a director with, and remuneration from, a company that is in competition with another company of which they are a director. It is equally incumbent upon directors to abide by the policies and uphold the principles of the company of which they are a director and not to accept any position with another company that might place them in conflict therewith. ..
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