Who are fiduciaries in a corporation?

Fiduciaries in a corporation are individuals or entities entrusted with the responsibility to act in the best interests of the corporation and its shareholders. This typically includes the board of directors, executives, and sometimes employees who have decision-making authority. They are obligated to exercise care, loyalty, and good faith in their duties, ensuring that their actions benefit the corporation rather than personal interests. Failure to fulfill these obligations can result in legal repercussions and liability.