What is the main fiduciary duty of the board of directors?

Question

Quizplus · Accepted Answer

The main fiduciary duty of the board of directors is to safeguard the interests of the corporation and its shareholders, including managing risk and ensuring accountability. While maximizing profits and monitoring executive compensation are important aspects of the board's responsibilities, they are not the primary fiduciary duty. Allowing high risk accounting practices would be a breach of the board's fiduciary duty to safeguard the interests of the corporation and its shareholders.

What Is the Main Fiduciary Duty of the Board of Directors