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:
“I’d like to come back as an independent woman who has more ambition than I have.”
—Jenny Bird (b. c. 1937)
“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)