Mar 5, 2012 - If a researcher needs data for business journalism, OpenCorporates is a. Open database of corporate officers and directors available to the world. To be able to search not just all the companies with directors for a given. Information made available through NMLS Consumer Access SM is derived from NMLS (Nationwide Multistate Licensing System / Nationwide Mortgage Licensing System and Registry), the financial services industry's online registration and licensing database.NMLS was created by the Conference of State Bank Supervisors (CSBS) and the American Association of Residential Mortgage Regulators.
Publicly traded corporations - those listed on the stock market - file extensive corporate information with the Securities and Exchange Commission. Almost all documents filed with the SEC are available online and can be accessed through a simple search. Enter the corporation's name at the SEC's EDGAR search site and examine the company's most recent annual (10-K) or quarterly (10-Q) report, which will identify the corporate officers. Note that many companies not listed on the stock exchange also file information with the SEC and you may find corporate officer information on these companies as well. Companies incorporate in a specific state and file their corporation papers with the state government.
This is usually handled by the Office of the Secretary of State. Visit that office's website to look up information on corporate officers as well as the date of incorporation and contact information for serving legal papers on the company. The information may be available online or you may need to contact the Office of the Secretary of State. Corporations do not have to incorporate in the state in which they are headquartered but often do so in states considered corporation-friendly, such as Delaware and Nevada.
Check Other Business Resources.
In an attempt to create a corporation in which stockholders' interests are looked after, many firms have implemented a two-tier corporate hierarchy. On the first tier is the: these individuals are elected by the shareholders of the corporation. On the second tier is the upper management: these individuals are hired by the board of directors. Let's begin by taking a closer look at the board of directors and what its members do. Please note that this article focuses on corporate structure in the U.S.; in other countries, corporate structure might be slightly different. Elected by the shareholders, the board of directors is made up of two types of representatives.
The first type involves chosen from within the company. This can be a CEO, CFO, manager or any other person who works for the company daily. The other type of representative encompasses, which are chosen externally and are considered to be independent of the company. The role of the board is to monitor a corporation's management team, acting as an advocate for stockholders. In essence, the board of directors tries to make sure that shareholders' interests are well served. Chairman – Technically the leader of the corporation, the board chairman is responsible for running the board smoothly and effectively.
His or her duties typically include maintaining strong communication with the chief executive officer and high-level executives, formulating the company's business strategy, representing management and the board to the general public and shareholders, and maintaining corporate integrity. The chairman is elected from the board of directors. Inside Directors – These directors are responsible for approving high-level budgets prepared by upper management, implementing and monitoring business strategy, and approving core corporate initiatives and projects.
Inside directors are either shareholders or high-level managers from within the company. Inside directors help provide internal perspectives for other board members. These individuals are also referred to as executive directors if they are part of the company's management team. Outside Directors – While having the same responsibilities as the inside directors in determining strategic direction and corporate policy, outside directors, are different in that they are not directly part of the management team. The purpose of having outside directors is to provide unbiased and impartial perspectives on issues brought to the board.
Chief Executive Officer (CEO) – As the top manager, the CEO is typically responsible for the corporation's entire operations and reports directly to the chairman and the board of directors. It is the CEO's responsibility to implement board decisions and initiatives, as well as to maintain the smooth operation of the firm with senior management's assistance. Often, the CEO will also be designated as the company's president and therefore be one of the inside directors on the board (if not the chairman). However, it is highly suggested that to ensure the chairman's independence and clear lines of authority.
Chief Operations Officer (COO) – Responsible for the corporation's operations, the COO looks after issues related to marketing, sales, production, and personnel. Often more hands-on than the CEO, the COO looks after day-to-day activities while providing feedback to the CEO. The COO is often referred to as a senior vice president. – Also reporting directly to the CEO, the CFO is responsible for analyzing and reviewing financial data, reporting financial performance, preparing budgets, and monitoring expenditures and costs. The CFO is required to present this information to the board of directors at regular intervals and provide it to shareholders and regulatory bodies such as the Securities and Exchange Commission (SEC). Also usually referred to as a senior vice president, the CFO routinely checks the corporation's financial health and integrity.
When you are researching a company, it's always a good idea to see if there is a good balance between internal and external board members. Other good signs are the separation of CEO and chairman roles and a variety of professional expertise on the board from accountants, lawyers and executives. It's not uncommon to see boards that consist of the current CEO (who is chairman), the CFO and the COO, along with the retired CEO, family members, etc.
This does not necessarily signal that a company is a bad investment, but as a shareholder, you should question whether such a corporate structure is in your best interests.