집행임원제도의 도입에 따른 문제점 및 개선방안 연구
A Study both on the problems and ameliorative measures of the system of executive officers
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Abstract
Korea has strived to reform the so-called corporate governance by introducing new systems such as outside directors and audit committee from the US in recent years. Unfortunately, the real arena which was targeted as the subject of reform has not kept up with the standard of the revised system in real sense. Almost all the enterprises are being operated by the directors who has been appointed by the shareholders at least outwardly. In addition, the above system has so-called perfunctory president who seems to be presiding over the company to the eyes of general outside investors. However, the chief executive officer(or the representative director) who is highly likely to be possessed by the controlling shareholder, sways power in the operation of the business. In some cases, even though the controlling shareholder does make all the important business judgements of the company, he(or she) does not take any legal responsibility as to the result of his(or her) misjudgement, since he(or she) does hold the position of chief executive officer or others of the company. In short, under the present system in which a board of directors is both a overseer of the business performance and a performer itself at the same time, it is quite difficult for the board to control over the arbitrary acts of the chief executive officer. Under this circumstances, it seems quite timely to try to introduce the system of executive officers into our Commercial Code to reenforce the overseeing function of the board of directors. However, the possibility of concurrent holding of post of a director and an executive officer seems to be the fly in the ointment together with the fact that the system of executive officers is not compulsorily compelled in the case of large scale public companies in the revised bill.
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