Phillips Law

Recommendations of STAKEHOLDER RELATIONSHIPS

407. All communication to stakeholders should use clear and simple language and should set out all relevant facts, whether positive or negative.

408. Minority shareholders should be protected from abusive actions by, or acts done solely in the interests of, the controlling shareholders.

409. What the company actually does, and not merely what it communicates, ultimately shapes the perceptions of stakeholders about it.

410. The Board should delegate to management the task of pro-actively dealing with stakeholder relationships.

411. The Board should not only disclose matters required by law, but should also disclose those matters which are of material importance to decision making by stakeholders.

  • According to the NATIONAL CODE ON CORPORATE GOVERNANCE ZIMBABWE