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All of the following are principles of good organizational governance, as established by Business Week, except A) Each director attends at least 75 percent of all meetings
All of the following are principles of good organizational governance, as established by Business Week, except
- A) Each director attends at least 75 percent of all meetings.
- B) The audit, compensation and nominating committees are made up solely of outside directors.
- C) Each director owns a large equity stake in the company, excluding stock options.
- D) At least three directors are current or former company executives.
- E) The CEO is not also the Chairperson of the Board.
Expert Solution
The answer is D.
At least three directors are current or former company executives.
The directors in the company should reflect a diversity of skills, knowledge, backgrounds, and expertise, as well as tenures that are ideal as per the company's circumstances for them to perform their duties efficiently. Directors should be selected to represent the broad range of society to develop a long-term shareholder value and strengthen the performance of the board.
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