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.
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Famous quotes containing the words independent and/or director:
“Nevertheless, in the Lord woman is not independent of man or man independent of woman. For just as woman came from man, so man comes through woman; but all things come from God.”
—Bible: New Testament, 1 Corinthians 11:11.
In v. 9, Paul wrote “Neither was man created for woman, but woman for man.”
“Your audience gives you everything you need. They tell you. There is no director who can direct you like an audience.”
—Fanny Brice (1891–1951)