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Article: Spencer Stuart Report Says 25 Percent of S&P 500 Lack Required Nominating/Governance Committees on Boards of Directors; 17th Annual SSBI Report shows how far firms need to go.
- Article from:
- PR Newswire
- Article date:
- October 1, 2002
CopyrightCOPYRIGHT 2002 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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NEW YORK -- One-quarter of S&P 500 corporate boards lack newly mandated nominating/governance committees, according to Spencer Stuart, the leading privately held, global executive search firm, in its just released 17th Annual Spencer Stuart Board Index (SSBI) report.
Spencer Stuart said firms without nominating committees need to move quickly to establish them and find independent directors to staff that committee. The nominating/governance committee identifies directors for a corporate board -- a job CEOs used to do. The urgency arises from proposed new SEC and stock exchange regulations regarding director independence and the shrinking pool of directors ...