Can a Canadian public corporation award 2% of gross corporate licensing revenue to the president ?

Question

The corporate president is a non shareholder and chief corporate legal counsel? The firm is structured as a patent portfolio licensing firm and is listed on the Toronto Exchange . What is the legal meaning of misappropriation of assets or improper manipulation of finances by high level managers or board members in Canada ?

Answer 1

Yes the board can pretty much do what ever it wants(which is usually what the CEO wants).Life isn't fair.