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External director distractions provide a sharp experimental setting to isolate the value of independent directors for several reasons.
According to Nicholas Benes, an external director at the reconstituted holding company for the Livedoor group, that this latest deal is regarded as Japan's first hostile takeover "shows how much we are still in the early years".
Hayward had faced questions about his appointment, with some investors hoping an external director would be named for the role amid concerns that Hayward would have little influence over Glasenberg; the chief executive and his four senior lieutenants own around about 20% of the company.
It's amazing how many people can eventually get to a director, external director, and ask them questions.
SoftBank will get a major presence on WeWork's board of directors, adding SoftBank vice chairman Ronald D. Fisher and external director Mark Schwartz, a former Goldman Sachs executive, to the board.
Similar(55)
Olympus had three external directors, a high number for Japan.
The call for more external directors has also caused agitation.
Without external directors, no such transaction could take place.
Israeli companies must have two external directors selected by noncontrolling shareholders.
First, BlueMountain doesn't have to do much to oust the old external directors.
Shareholder proposals and votes signalling disapproval of management or of external directors are becoming more common.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com