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Email Confirmation
Jul 3 2007
1:28PM
EDT
No C.E.O.'s on the Board? Good!
It seems to be harder to find C.E.O.'s to sit on corporate boards these days. Good! Maybe they can be replaced with -- and I know this might be shocking to some -- shareholders?
After all, an involved, major shareholder will already be spending a lot more than 200 hours a year -- which is the new average for directors -- examining how his investment is performing, so sitting on the board will involve much less marginal extra work.
And a shareholder is generally much less likely to rubber-stamp executive decisions than is a fellow executive who's overly concerned about "the day-to-day challenges" of the C.E.O.
Felix Salmon's full Market Movers blog post on this subject can be found here.
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