Strategy & risk of a subsidiary

• Who has responsibility for strategy and risk appetite? Theory vs practice

• Exercising shareholder control whilst encouraging subsidiary entrepreneurship & innovation

• Dealing with the difference of interests between shareholder and subsidiary: obligations and practicalities

• Risk: subsidiary vs branch

• The role of group internal & external audits, limitations of their work: consequences for subsidiary directors.

• Practical oversight of related party transactions between shareholder and subsidiary

A Board simulation to illustrate the conflicts of interest arising for directors nominated by majority shareholders