Nepřístupný dokument, nutné přihlášení
Input:

Corporate Hierarchy

25.5.2018, , Zdroj: Verlag Dashöfer

301
Corporate Hierarchy

Edward Thomas

1. MEET THE BOARD (OF A PHARMA COMPANY)

„I'm Martin Colville, the CEO or Chief Executive Officer. I am meant to ensure 1. ………………………. Sometimes I get called the Chairman of the Board.”

„Hi. I'm George Mc Cann. I'm the C.O.O., or Chief Operating Officer. I report to Martin and 2. ………………………. I'm really needed because the company is too large for the CEO to manage everything.”

„I'm Will Blondquist. I am the C.F.O., or Chief Financial Officer. My job has several parts - to manage financial risk for the company, 3. ……………………… oversee in -company auditing and the preparation of financial reports. I report to the Board and the CEO.”

„Hi, I'm William Ekwulugo. I am our Executive Vice-President, Africa. With all the medical problems in Africa it's a major region for growth in the drugs business and 4. ……………………… is very important.”

„I'm Alston Hughes. I am 5. ………………………. I am responsible for the licensing and branding of our products, as well as research.”

„I'm Alison Howarth. I'm a Non-Executive Director. I sit on both the Nomination Committee and the Remuneration Committee. 6. ……………………… and I help decide who will become a Board member and how much people in the company will get paid - from the lowest workers to the top of management...”

„...And my name is Rob Howell and I'm also an Outside Director- I sit on the Science Committee because 7. ……………………… for deciding what kind of products to select for development and research.”

Above you can see the descriptions of some of the board members of a Pharmaceutical company. Below you can see some phrases that have been taken from the descriptions, leaving gaps. Can you put the right phrases in the right gaps?

 

a) this division of our company
b) Executive Director for Development
c) that all the decisions of the Board are carried out
d) I have a background in personnel and finance
e) I manage the day to day affairs of the company
f) my experience in medicine is vital
g) to do financial planning, and financial record keeping

Correct answers are here1

2. CREAM RISING TO THE TOP?

Fat Cats' Pay Causes Anger

The fat cats of the boardroom are earning great amounts of money when their salaries are combined with share option schemes and bonuses. A recent survey of the top 100 British companies listed on the stock exchange has shown that they gave their directors more than GBP 1 billion in 2006.

The survey by the Interesting-to-Know (I.K.) survey group showed that total incomes for directors of Britain's top companies rose by over a third, and at more than nine times the average rate for British salaries.

The biggest salaries it suggests are in financial services, although these organisations also usually have the flattest pay structures.

The biggest pay gaps can be seen supermarkets and pubs. This may be because they employ a large number of part-time workers.

The detailed results of the survey are likely to cause angry debates over executive pay. 'It seems incredible that top directors have suddenly become so much more productive than the rest of their staff,' a Mr Whatnot told the Inquisition newspaper.

Polly Complainer led a long line of newspaper commentators attacking the corporations paying such a lot of money to their executives. Writing in the Inquisitor on Sunday newspaper she writes that „Boardroom pay is out of control and obscene, and there is a great and widening gap between the rich and the poor. It is so terrible that I want to cry.”

Responding to the criticism, Luke I. M. Rich-Okay, spokeperson for Directors-in-it-for-Money (DiM) said that executives holding positions with a lot of responsibility, sitting on committees and reporting to shareholders simply deserved a lot of money and that was all he would say about it.

Can you...

1. Find two synonyms for „fat cats” :-)?

2. Find two synonyms for „pay”?

3. Find two activities of executives?

4. Find two ways in which boardroom pay is added to?

Correct answers are here2

True or false

1. The biggest difference in pay between executives and employees is in financial services.

2. Boardroom pay is rising about as much as for ordinary employees.

3. A major factor in the debate is bonuses and share schemes.

4. All kinds of companies were questioned for the survey.

Correct answers are here3

3. EXPLAINING WHAT´S WHAT

Could you tell a stranger what's what about your company? Or who's who? Look at the table below. You can see there are some explanations which are mixed up into three parts. Put them together in the right way and the explanations should be clear.

 

1. A bonus I. Is where the financial situation of the company is analysed in detail a) the instructions of the executives.
2. A stock option II. Work is better paid and b) and has no operational responsibilities.
3. Productive III. Is money given if c) good people who might add something to the capabilities of the board.
4. An audit IV. Is the duty which directors have to their best d) to pay employees.
5. The pay structure V. Is shares e) often doesn't include benefits.
6. The Remuneration Committee VI. Is an adjective from f) or an employee of the company whose board he sits on.
7. An outside director VII. Is a less senior part of management which carries out g) the company is successful.
8. Full-time VIII. Are the people who hold a part of the company's stock, and who h) for the shareholders of a company.
9. An inside director* IX. Decides how much i) offered as a reward for success.
10. The Nomination Committee X. Of a company is the many levels and schemes of pay j) it would usually involve the CFO of a company.
11. Shareholders XI. Is not an employee of the company k) the verb „to produce” and often means making money through success.
12. Part-time XII. Is someone who is either a stakeholder l) which a company offers different types of employees.
13. Middle management XIII. Work is less well paid and m) usually attend the annual General Meeting where they get to ask questions of the CEO.
14. Fiduciary duty XIV. Works to find n) includes all benefits, for example social insurance.

*NB. an „inside” director is the same as an „executive” director. An „outside director” is equal to a „non-executive” director.

Correct answers are here4

4. LANGUAGE AUDIT!

Below you can see a table which puts some of the key words we've look at so far into different forms. Can you fill in the gaps? The better you are, the better your feeling for different forms of words! If you need to use a dictionary, make sure you use your common sense - words can have many forms and many meanings. The synonyms are of verb forms only, and there could be more than one right answer.

 

Verb Personal Noun Abstract Noun Adjective Synonym
to remunerate                                                            remunerable                              
                                                            auditing                                                            
                              (x2) executor execution                               to carry out
                             
                              (x2) nominee                               nominated                              
                             
to chair                                                                                                                        
                              (x2) employer                                                                                          
 

Correct answers are here5

Now look at the account below of Martin Ryman's job as an outside director and put an appropriate form of the words above in the right gap. In the gaps that remain, use an appropriate verb from the following: look for, report, oversee, sit on.

„I 1. ……………………… various committees in my role as a non-2……………………… director.

Sometimes I have to 3. ……………………… meetings where I am the most expert member present. Yes, it's true that the 4. ……………………… for such work is very high, but I, along with other directors, 5. ……………………… to shareholders. One of my committees is the 6. ……………………… Committee where we 7. ……………………… people who could add experience, contacts or expert skills to our senior management team. With a background in finance, I am often asked to advise the CFO when we have to do an 8. ………………………. One of my special tasks is to 9. ……………………… the financial training programme we have for new 10. ………………………. ” - Martin Ryman, Outside Director.

Correct answers are here6

5. WHO´S UP AND WHO´S DOWN

Read the text below. It's about the corporate „merry-go-round” - the frequent changes of personnel that happen at boardroom level. Make sure you notice the words in italics - they're the useful vocabulary you need to know, which will be examined later. Try to understand which people are doing what - leaving, arriving or staying. Can you write these words down?

CITY salami – we slice up the business employment news so that it's bite-sized!

Movers & Shakers

There is to be a surprise return to the US for Paul Everard, who will become chief executive of SparMart.

Mr Everard, who is highly regarded, is one of the well-known Adsa alumni which include Allenby's Rich King, PBOS's Ashley Horton and Rainier's Rich Walker.

Since departing from Adsa, the supermarket group, he has led Marbalan for the last four years.

Everard's appointment, planned by chairman John Landesman, means that the future of current chief executive Steve Obama is in question. „There is every possibility Obama may quit the company”, says a source inside the company.

Mr Landesman, a retail entrepreneur, was brought in by Robert T. Spengler, who headed the private equity consortium that acquired the US's fifth largest supermarket group in July for $ 1.8billion.

Mr Everard could take up the position at SparMart very soon. Explaining why he wants to leave his current company, a colleague said: “He's tired of long hours in our boring meetings.“

******

City heavyweight Donald Condon is joining market information group TNP as chairman after a ten year tenure with Starkeys Group. He is replacing Alun

 
 Napište nám
 Beru na vědomí, že tento formulář neslouží pro zadávání odborných dotazů, ale pro zasílání Vašich podnětů a postřehů k fungování portálu. Pro zadávání odborných dotazů prosím používejte tento formulář. Děkujeme za pochopení.
 Děkujeme, na Váš podnět budeme reagovat do 24 hodin v rámci pracovního týdne.
Input: