Salomon Smith Barney - Best Practices in Corporate Governance.pdf
S GLOBAL AUGUST 2002 CORPORATE FINANCE Financial Strategy UNITED STATES Anil Shivdasani (212) 816-2348 @ Best Practices in New York Marc Zenner Corporate Governance (212) 816-4996 @ What Two Decades of Research Reveals New York This report can be accessed electronically via ➤ SSB Direct ➤ E-Mail Please contact your salesperson to receive SSB fixed-e research electronically. a August 9, 2002 Best Practices in Corporate Governance
Contents
Executive Summary 3 Introduction 4 What Does the Research Tell Us? 5 Should the Board posed of a Majority of Independent Directors?.......................................... 5 Who Qualifies as an Independent Director?....................................................................................... 6 Should the CEO be the Only Insider?................................................................................................ 7 Should the Chairman be Separate from the CEO? ............................................................................. 7 How Should mittees be Structured?................................................................................. 8 How Often Should the Board Meet? ................................................................................................. 9 How Large Should the Board Be?..................................................................................................... 9 How Many Boards Should Directors Sit On? .................................................................................... 10 Should Top Executives Hold More Stock?........................................................................................ 11 Does pensation Create Value for Shareholders?.............................................................. 12 How Should Directors pensated? .......................................................................................... 12 Wh
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