No Change in T-Mobile Duty of Care Policy to Shield Officers From Damages: CEO
T-Mobile “obviously” is aware of the change in Delaware corporate law that now permits corporations to amend their certificates of incorporation to limit the personal liability of most senior officers for monetary damages if the officers breach their fiduciary duty…
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of care, President-CEO Mike Sievert told T-Mobile’s annual meeting virtually Friday. T-Mobile is “tracking” the change in Delaware corporate law “as a company and as a board," said Sievert in Q&A. “But we have not made any changes to the certificate of incorporation at this time,” he said. “The duty of care is very important and taken very seriously by both our board and our management. If there is an update to our policies, we’ll make sure to disclose that publicly to you.” It was the only shareholder question raised online during Q&A, and it's not known who raised it because neither Sievert nor T-Mobile Chairman Timotheus Hottges, who read the question from a monitor, didn't identify the questioner.