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Outside independent auditor resigned. The Commission is of the opinion that the public interest and the protection of investors require a suspension of trading in the securities of the above-listed companies. Therefore, it is ordered, pursuant to Section 12(k) of the Securities Exchange Act of 1934, that trading in the securities of the above-listed companies is suspended for the period from 9:30 a.m. EDT on July 5, 2012, through 11:59 p.m. EDT on July 18, 2012. By the Commission. Elizabeth M. M.
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Cfr FAQ
In most cases, it's best to select an interim chairperson -- usually the vice chair -- until you can select a proper substitute. Sometimes, however, it's a better idea to bring in outside talent, particularly when the chair resigns over an issue with the board itself or because of a serious problem with your company.
Impact on incorporation: In most cases, a mass board resignation should not directly affect the organization's legal existence or incorporation. However, the disruption caused by the resignations could complicate the incorporation process for a new organization or lead to delays in renewing an existing incorporation.
If you feel like it's time to leave your current position on a committee or board, you may do so by submitting a formal resignation letter . This can help you respectfully communicate your intention of leaving and thank the others for their time and support for the duration of your membership.
In an ideal situation, you should resign at the completion of your board term. Check the organization's bylaws to ensure that you follow any protocol that's laid out for board resignation. If you can, be truthful and up front about why you're no longer interested in serving on the board.
This could be due to a number of factors, such as a disagreement over strategy, a lack of transparency, or a perceived lack of ethics. Unwillingness to compromise: Sometimes, directors may feel that they are unable to achieve the changes they want without comprom.
When a board member steps down, ask them to submit a written letter that states the date when the resignation takes effect. The resignation should be added as an agenda item to the next board meeting, where the board should formally accept it and include the letter in the records and minutes of the meeting.
You may feel that you have outgrown your board role when: Your goals have been achieved. ... You have stopped growing. ... You feel a need for new or different challenges. ... Your personal circumstances have changed. ... You feel a problem has become intractable. ... You feel you have contributed enough. ... You want to pass the baton.
Here are the key steps for writing a resignation letter from your committee role: Address the chairperson by name. ... Give a reason for leaving. ... If you have problems or concerns make a numbered list. ... Offer help with the transition. ... Provide a date for leaving. ... Thank the chair and committee.
In the vast majority of cases, board members have the right to resign whenever they want to. One rare, but notable, exception for board resignations is when resigning would cause a breach of the board member's fiduciary duties.
WHY DIRECTORS RESIGN The board is no longer a good professional fit. The director is overcommitted and unable to serve the board to the best of their abilities. Family issues. Illness. Burnout. The director disagrees with the company's direction.
The resignation of a volunteer board member or director is not an uncommon occurrence. Typically it is because the person finds themselves unable to fulfill their duties. Personal or family matters or new work commitments can unexpectedly get in the way of their continued board involvement.
In most cases, it's best to select an interim chairperson -- usually the vice chair -- until you can select a proper substitute. Sometimes, however, it's a better idea to bring in outside talent, particularly when the chair resigns over an issue with the board itself or because of a serious problem with your company.
Impact on incorporation: In most cases, a mass board resignation should not directly affect the organization's legal existence or incorporation. However, the disruption caused by the resignations could complicate the incorporation process for a new organization or lead to delays in renewing an existing incorporation.
If you feel like it's time to leave your current position on a committee or board, you may do so by submitting a formal resignation letter . This can help you respectfully communicate your intention of leaving and thank the others for their time and support for the duration of your membership.
In an ideal situation, you should resign at the completion of your board term. Check the organization's bylaws to ensure that you follow any protocol that's laid out for board resignation. If you can, be truthful and up front about why you're no longer interested in serving on the board.
This could be due to a number of factors, such as a disagreement over strategy, a lack of transparency, or a perceived lack of ethics. Unwillingness to compromise: Sometimes, directors may feel that they are unable to achieve the changes they want without comprom.
When a board member steps down, ask them to submit a written letter that states the date when the resignation takes effect. The resignation should be added as an agenda item to the next board meeting, where the board should formally accept it and include the letter in the records and minutes of the meeting.
You may feel that you have outgrown your board role when: Your goals have been achieved. ... You have stopped growing. ... You feel a need for new or different challenges. ... Your personal circumstances have changed. ... You feel a problem has become intractable. ... You feel you have contributed enough. ... You want to pass the baton.
Here are the key steps for writing a resignation letter from your committee role: Address the chairperson by name. ... Give a reason for leaving. ... If you have problems or concerns make a numbered list. ... Offer help with the transition. ... Provide a date for leaving. ... Thank the chair and committee.
In the vast majority of cases, board members have the right to resign whenever they want to. One rare, but notable, exception for board resignations is when resigning would cause a breach of the board member's fiduciary duties.
WHY DIRECTORS RESIGN The board is no longer a good professional fit. The director is overcommitted and unable to serve the board to the best of their abilities. Family issues. Illness. Burnout. The director disagrees with the company's direction.
The resignation of a volunteer board member or director is not an uncommon occurrence. Typically it is because the person finds themselves unable to fulfill their duties. Personal or family matters or new work commitments can unexpectedly get in the way of their continued board involvement.
The resignation of a volunteer board member or director is not an uncommon occurrence. Typically it is because the person finds themselves unable to fulfill their duties. Personal or family matters or new work commitments can unexpectedly get in the way of their continued board involvement.
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