Abstract
There are many aspects of relationships between the board and management that are determined on a best effort basis. That is, the rules and by-laws of the company cannot prespecify the detailed workings of the intersecting interests. Our system of capitalism depends on the good faith efforts of all concerned to derive effective working relationships. This case provides for a discussion of these issues in the context of Jack Wright and Mega Corporation. Excerpt UVA-OM-1089 Rev. May 13, 2011 CORPORATE GOVERNANCE: The Jack Wright Series (7) The Board–Management Relationship Wright's Perceptions of the Mega Board Jack Wright had been on the board of Mega Corporation for almost a year and was confident in his assessment of the ways in which the board and the corporate organization functioned. He recognized some pluses: a strong balance sheet, several good businesses, and some others that could be sold. He also saw, however, a number of issues that were not being addressed but needed to be. . . .
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