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Tag >> outside directors
Jun 14
2010

The "dark side" of independent directors

Posted by SherylNash01 in outside directorscorporate governancecareer/management

SherylNash01

Governance activists have argued for years that companies are better off when a majority of their board members are outsiders.

And in the aftermath of the accounting scandals at the beginning of the millennium, listing standards on US exchanges were changed to require boards contain a majority of outside directors. In addition, Section 407 of the Sarbanes-Oxley Act required public companies to disclose whether their audit committees include at least one member who is a financial expert, and if so, whether the person is "independent" of management.





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