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Corporate Officers Face Expanded Oversight: What To Know

A recent case involving McDonald s has expanded the scope of liability for oversight beyond directors to include corporate officers.

Delaware Courts Confirm High Standard for Breach of Oversight Duty Applies Equally to Officers and Directors | Bennett Jones LLP

Delaware Courts Confirm High Standard for Breach of Oversight Duty Applies Equally to Officers and Directors

In the United States, corporate directors and, as confirmed by the Delaware Court in McDonald s Corp. Stockholder Derivative Litigation McDonald1, corporate officers owe, as a subset of their duty of loyalty, a duty to monitor and oversee the operations of a company. This duty of oversight is often referred to as the “Caremark” duty, named after the 1996 case establishing its parameters.2 A party seeking to bring a Caremark claim against a director and/or officer “must allege sufficient facts to support a reasonable inference that the fiduciary acted in bad faith.”3

Delaware Rulings on Officer Duties

Segway Segues Over Choice Of Law Question Inherent In Officer Caremark Claims | Allen Matkins

Last year, Vice Chancellor J. Travis Laster's  ruled that McDonald's Corporation's former Executive Vice President and Global Chief People Officer, David Fairhurst, owed a duty of.