This category asks whether or not the board has a formal policy that allows independent board members to meet not just without management, but without family members as well. (rotman.utoronto.ca)
Many of the interviews with family firm board members revealed that it is crucial for independent board members to have formal processes to monitor and optimize the skills and composition of the board. (rotman.utoronto.ca)
What we've seen as a result of an increase in independent board members is a boost in payout ratios. (heartlandadvisors.com)