God stiftelsesledelse i internationalt perspektiv Steen Thomsen, Center for Corporate Governance Copenhagen Business School

Nørby Scheibye Cadbury A&B aktier Ledelsesløn Små og mellemstore virksomheder Staten som ejer OECD CSR Uafhængighed Aagaard Diversitet Gennemsigtighed Kompetencer Corporate Governance Medieomtale Praksis Forskning Stiftelser Walker Higgs Pensionskasser Governance bølgen

Leverandører Banker Arbejdsmarked Direktion Modtagere Myndigheder Medarbejdere Bestyrelse Brugere Governance i stiftelser: Det store billede Medier Offentlighed Revisor

Stiftelser er specielle Ingen ejere Krympereglen Ledelse efter fundats (vedtægter) Formålet ejer fonden Tilsynet som vagthund Legalitetstilsyn og stiftervilje Bestyrelsen som øverste myndighed Direktør (sekretariat) – eller ej?

..stiftelser er specielle Ledelse med evigheden for øje (fondens interesse) Udlodning eller reinvestering? Velgørenhed eller erhvervsvirksomhed?

God stiftelsesledelse Langsigtethed Kontinuitet Konservatisme Udvikling Ansvarlighed

Og knap så god Stiftelsesledelse Bedrageri Inaktivitet Manglende realitetssans (urimelige risici) Vennetjenster Egodyrkelse

Internationale eksempler Excess expenditure to the private benefit of officers and directors, for example a $ wedding paid for by a family trust (Edie 2010 p. 22) or paying for a personal chef’s travels. Excessive salaries to executives and directors, which must occasionally be paid back (Edie 2010). Excess labor costs (Steinberg p. 101). Using tax exempt fund for political purposes (Edie 2010) Related party transactions with affiliated business companies and founding families, such as the Hertie- Karstad case in Germany (Mecking 2010)

Flere internationale eksempler Tensions between managers and founders who at psychological level still consider the nonprofit they have established as their property (Mecking 2010 p.539). Abuse of authority towards grant seekers who are regarded as supplicants (Mecking 2010 p. 58). Size maximizing management (Steinberg 2010) The use of the organization’s assets on a more favorable basis than available to outsiders (Fishman 2010) The taking of an opportunity that belonged to the organization (Fishman 2010) The personal use of material nonpublic organizational information (Fishman 2010) Managers or board members involved in competing organizations (Fishman 2010)

Corporate Governance Codes Anbefalinger

GOD STIFTELSESLEDELSE

Kompetenceprofil - eksempel 1) Hvad er stiftelsens udfordringer? - Finansiering og investering - Moderne billedkunst - Medicinsk forskning 2) Hvordan matcher de med bestyrelsesmedlemmernes kompetence? 3) Tag konsekvensen

InvesteringMaleriMedicin Medlem 1 Medlem 2 Medlem 3X Medlem 4x Medlem 5x KOMPETENCERKOMPETENCER

Hvor længe skal stiftelsen blive ved?

Stordriftsfordele I

Stordriftsfordele II

Tak! The Research Project on Industrial Foundations