THE BOARD ROOM

THE BOARD ROOM

The boardroom is a place where people who control a company or organisation meet .i.e. the Directors of the Company.

The Directors of the company must act collectively as a board, hence the need to hold board meetings where issues of strategy and corporate governance are discussed and agreed upon.

Contrary to the expectation that the intentions of the board members will be homogeneous in the sense that the essence of business arrangement is to make profits, the board room is indeed a place of battles, intrigues and conflicts.

Prof. Bolaji Owasanoye in his article, Power sharing amongst shareholders and Directors, summed up the reasons as follows: in the context of the vast potentials of the company as a vehicle for wealth and wealth as a route to power, power play among contending forces is as much a reality in company law as it is in politics.

The issue is control of the company as a step to tapping its vast potentials.