Thu.Apr 18, 2024

article thumbnail

Should board members be elected “for life?”


No board member should be grandfathered, guaranteed a board seat forever. Practically speaking, this is an impossible goal. We have investigated the restrictions imposed by investment documents and the obvious need to keep continuity on the board with the retention of the CEO position at the very least. But it would be the best of form to require in the bylaws of a corporation that all seats are re-elected annually.

Email 156