Home Depot Corporate Governance

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Audit Committee The Audit Committee is comprised of the following five members from the Board; F. Duane Ackerman, Ari Bousbib, J. Frank Brown, Karen L. Katen, and Mark Vadon. This group is tasked with assisting the Board with the oversight of The Home Depot’s financial statements, ensuring that they are in compliance with legal and regulatory requirements. They also review and monitor the Company’s Compliance program, making changes when appropriate to ensure that the Company remains compliant. This committee must be comprised of three or more independent directors from the Board and they cannot receive any compensation other than directors’ fees from Home Depot. A requirement for this committee is to have a basic understanding of finance and accounting principles and practices. At least one member must be an “audit committee financial expert.” Mr. Brown acts as the audit committee financial expert. The members of this committee all have knowledge in basic accounting and finance principles and also bring in a variety of knowledge in different areas. Leadership Development & Compensation Committee The Leadership Development and Compensation Committee of the Board of Directors are responsible for helping with the development, attraction, and retention of The Home Depot’s leadership. They are also responsible for establishing the Company’s compensation and benefit programs. Some of their goals are as follows: 1. To establish the compensation policies and strategy of the Company. 2. To review compensation policies and ensure that the compensation of the Board of Directors, officers and associates allows for the Company to attract and retain high-quality leadership. 3. To establish policies related to human resources and emp... ... middle of paper ... ...p=irol-govCommittee&Committee=8273 Our company. (2013). Retrieved from https://corporate.homedepot.com/OurCompany/Pages/default.aspx Our leadership. (2013). Retrieved from https://corporate.homedepot.com/OurCompany/Leadership/Pages/default.aspx The home depot values. (2013). Retrieved from https://corporate.homedepot.com/OurCompany/Values/Pages/default.aspx Shivdasani, A., & Zenner, M. (2004). Best practices in corporate governance: What two decades of research reveals. Journal of applied corporate finance, 16(2/3), 29-41. U.S. Securities and Exchange Commission, (1999). Nyse chair richard grasso, nasd chair frank zarb, and blue ribbon panel co-chairs ira millstein and john whitehead announce "ten point plan" to improve oversight of financial reporting process(Press release 99-14). Retrieved from website: http://www.sec.gov/news/press/pressarchive/1999/99-14.txt

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