Governance expectations on conflict of interest are clear. However, time and time again, they are tested, sometimes very publicly, when it comes to close personal relationships.
If a company's leaders have unmanaged personal conflicts of interest, not only can the organisation's governance and culture suffer, but it can turn into a public relations disaster, damage reputations and give rise to significant legal risks.
Close personal relationships therefore require careful disclosure and management. However, when directors and officers of a company have failed to declare a conflict and engaged in conduct inconsistent with the expectations on them (and others in the company), this poses difficult issues for proportionality of treatment.
This session will look at:
- Recent examples of personal conflict management;
- Unpacking what is a personal conflict and when should it be disclosed;
- Best practice for management of personal conflicts; and
- The proportionality debate between discipline and/ or financial penalty.
Qld Gold Corporate Partner
Members & Directors Executive
+61 7 3222 5500