A chairperson will be appointed from among the Outside Directors
at the Nomination and Compensation Committee meeting scheduled to be held in July this year.
This has been reflected in our selection of outside directors
. At certain times, we have asked global business experts to be outside directors
who could provide us with advice on how to promote our sales worldwide, but on other occasions we have asked experts on maintaining product safety to be outside directors
who could provide advice on this.
The world's fifth-largest steelmaker has since taken the process of selecting Kwon's successor under the auspices of a special council composed of five outside directors
. The problem is most of the five directors were those who looked the other way when previous governments meddled in selecting Kwon and his predecessor They are also close to the current and previous POSCO executives aiming at the chairman's post.
A key objective of this article is to highlight the important role that financial reporting plays in reducing the informational advantage of managers over outside directors
, shareholders, and other stakeholders (for example, regulators).
Using a sample of 688 outside directors
appointed to the boards of S&P 500 companies from 2005 to 2010, we find that companies that announce the appointment of an industry expert director earn significantly higher announcement returns than companies that announce the appointment of a new director without industry experience (on average about 0.4% to 0.7% larger).4 This finding is not only statistically, but also economically significant relative to the whole sample of 688 new outside director
appointments (where the overall average two-day announcement return is approximately 0.08%).
(1997) examine the impact of the target firm's independent outside directors
on takeover premiums during takeover attempts by tender offers.
While outside directors
said the level of communication was "just right" (88 percent), only about half of management shared that sentiment (56.7 percent) based on a survey done by compensation consultant firm Pearl Meyer & Partners.
Outside help doesn't always have to come in the form of an advisory board or group of outside directors
; many retailers turn to a single third-party consultant for guidance, while others participate in industry roundtables through NRHA, other membership organizations or their buying groups.
All outside directors
voted for an equity capital raise; the founder/ CEO wanted to raise more subordinated debt.
In many studies of corporate boards researchers have categorized the role of outside directors
in large firms into three types: control, service, and resource dependence (see e.g., Johnson, Daily, & Ellstrand, 1996; Peng, 2004).
may accept outside directors
who would oversee its business management in the case the beleaguered utility is placed under effective government control, sources close to the matter said Thursday.
Emphasizing founder-involved firms (i.e., firms that are floated by their original founders), this article examines interlinks between founders' prestige and selection of inside and outside directors
, and short-term performance measured in terms of IPO "underpricing." The results provide evidence of positive association between founders' and directors' prestige, but there is substitution between inside and outside directors