Independent Director

An Independent Director (also sometimes known as a outside director or non-executive director) is a director (member) of a board of directors who does not have a material or pecuniary relationship with company or related persons, except sitting fees. Independent Directors do not own shares in the company. (Some sources state non-executive directors are different from independent ones in that non-executive director are allowed to hold shares in the firm while independent directors are not. In the US, independent outsiders make up 66% of all boards and 72% of S&P 500 company boards, according to The Wall Street Journal.

Read more about Independent Director:  Effectiveness

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... Some researchers have complained that firms have appointed "independent directors who are overly sympathetic to management, while still technically independent according to regulatory definitions." One complaint ... While the NYSE has a $1 million limit on business dealing between directors and the firm, this does not include charitable contributions ... Two critics of management influence over boards note that "a director who is an officer or employee of a charitable organization can still be considered independent even if the firm on whose board ...

Famous quotes containing the words director and/or independent:

    He wrote me sad Mother’s Day stories. He’d always kill me in the stories and tell me how bad he felt about it. It was enough to bring a tear to a mother’s eye.
    Connie Zastoupil, U.S. mother of Quentin Tarantino, director of film Pulp Fiction. Rolling Stone, p. 76 (December 29, 1994)

    Most works of art are effectively treated as commodities and most artists, even when they justly claim quite other intentions, are effectively treated as a category of independent craftsmen or skilled workers producing a certain kind of marginal commodity.
    Raymond Williams (1921–1988)