Re: Is PDSG a part of this? 1Rare1
in response to
by
posted on
Sep 09, 2009 06:57PM
It's typically mundane questions involving strategic issues or just general information being passed along. They attend 4 quarterly meeting with a special session here and there for various issues that come up. They each receive $12K annually with no stock options
Non-employee directors are paid an annual retainer of $180,000, and the Presiding Director and Committee Chairs receive an additional annual fee of $5,000. No meeting fees or committee membership fees are paid. http://www.uss.com/corp/proxy/documents/34186ACL.PDF . I will not go into a lengthy debate about the division of roles between executive and non-executive directors as there is ample material on the web, rather, by way of example, will cite your employer's Audit Committee Charter, from which you can see there is more to being a member than a round of golf and quick meeting every few months:
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c) The Committee will review significant accounting, auditing, and Securities and Exchange Commission pronouncements
c) The Committee will review significant legal and regulatory matters that may impact the Corporation, and will report regularly to the Board and review with the Board any issues that arise with respect to the Corporation’s compliance with legal or regulatory requirements
a) The Committee will obtain advice and assistance from outside legal, accounting, or other advisors as the Committee deems necessary to carry out its duties http://www.uss.com/corp/company/profile/5_2009AuditCommitteeCharter.pdf Are you suggesting that the above is "not working" on compliance etc.? . . Be well