Wall Street Journal: In The Lead: What Boards Can do to Boost Independence, Restore Investor Trust

The Wall Street Journal

In The Lead: What Boards Can do to Boost Independence, Restore Investor Trust

By Carol Hymowitz. Wall Street Journal. (Eastern edition). New York, N.Y.: June 25, 2002 pg. B1

“Some executives and board recruiters complain that the proposals will pit corporate heads against directors, and increase the difficulty of filling board slots."

“Even before Enron, one in four board candidates declined seats, says Dennis Carey, a vice chairman of the recruiting firm SpencerStuart and a co-founder of the Director's Institute at the University of Pennsylvania's Wharton School. 'The biggest reason people don't want to serve is time demands.”

“Mr. Carey recommends that boards establish just four commitees – Audit, compensation, corporate governance and director nominations-- to center their attention on key issues.”