Mr Cooper Group Inc (COOP)

[Windfall Magic]

When a board is selected to be the director of a corporation or nonprofit agency, it has various responsibilities. It is responsible for acting on behalf of the shareholders of the company to make the best decisions and policies for the company. The board has a fiduciary responsibility to the company; that is, it has a responsibility for the care of the assets and rights of the company.

A board member should not have a conflict of interest that may cause him to not have the company's best interest in mind. According to Lawyers.com, if a conflict exists, the board member needs to disclose it to the board so that the board may take any necessary actions. Each board member should put the benefit of the company ahead of any personal benefit. This may come be tested if the company is being sold or transferred and the transaction results in personal gain for individual members of the board. It is the duty of the board member to inform the board of these issues.

The board must periodically review and discuss the state of the company, including its finances. Viewing all financial records and making changes where necessary to benefit the entire company is a top priority of the board. This includes setting budgets, ensuring that financial resources are available and holding stakeholders accountable for the performance of the company.

This should be enough reason for D/G to trust his DD....


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