I thought about my beloved Astros and what their Board of Directors might think about all of this; that is, if they had a Board of Directors. For instance, would a Board of Directors throw in the towel for being competitive in not only this season but for at least three more just to save some money? But the Astros do not have a Board, they only have an owner, so a special thanks to Jim Crane for not only selling out by agreeing to send up to the AL but for ending any chances of the Astros being in the playoffs anytime soon.
Fortunately US public companies do have a Board of Directors and these same Directors have a role in their company’s Foreign Corrupt Practices Act (FCPA) compliance program. Corpedia, in a recent White Paper entitled “The Importance of Board Oversight: The Role That Directors Play in an Organization’s Ethics and Compliance Program”, detailed why a Board of Directors has a role in a company’s FPCA compliance program and provided some guidance as to their views on what may constitute “appropriate Board oversight”.
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