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BOARD MEMBER BEING UNETHICAL?
All names have been changed.....Joe is a Board member on ( Johns Board). He is also contracted to work for (Pollys Petals) one day a week. Well Pollys Petals want to charge (Johns Board) 5.00 dollars a month now, instead of 2.00 dollars. Should Joe be allowed to vote on (Johns Board) for that 3.00 dollar increase or is it unethical for him to vote.....I really need help on this. Thank you
1 Answer
- 1 decade ago
Most boards (all that know of, but there might be an exception) have conflict of interest policy in writing that states they cannot vote on matter that they have a financial interest in.
His argument probably is that he won't benefit financially. To be on the safe side a smart board member would not vote, of the vote is that close that one vote made a difference their are other problems on the board.