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 company's stakeholders. This includes shareholders, employees, customers, suppliers, and the community at large. While maximizing profits may be a goal, it should not be pursued at the expense of these stakeholders. Monitoring executive compensation and disallowing high-risk accounting practices are also important responsibilities of the board, but they are not the main fiduciary duty.

What Is the Main Fiduciary Duty of the Board of Directors