Board members live luxuriously; companies do not have for salaries and new mechanization
Winter 2015. An idyllic picture in Macedonia. Snow-covered land, impassable roads and many villages cut off. The public enterprise Makedonija Pat has no money for new machinery, but has money to give to the managing board exceeding the number of people under the law. Namely, the Board of Directors of this public company has 13 members, which is illegal. Using the legal right to free access to public information, SCOOP Macedonia came to data on illegal membership in the boards of directors of some companies, as a continuation of the previous research that showed how board members earn both salaries and honoraria. Under Article 21 of the Statute of PE Makedonija Pat, maximum number of members should be 5. Lawyers say this is illegal. “Membership of more members in the Board of Directors, as stipulated in the company’s...