Term limits and the myth of perpetual independence
The SEC’s authority to regulate independent directors is firmly anchored in Section 22 of Republic Act 11232, or the Revised Corporation Code of the…
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54,986 results for “SEC independent director term limits”
The SEC’s authority to regulate independent directors is firmly anchored in Section 22 of Republic Act 11232, or the Revised Corporation Code of the…
Cityland Development Corp. has appointed former Philippine Prime Minister Cesar E.A. Virata as independent director to fill a board vacancy and support its…
‘We’re not afraid to go to court if they want to go to court’ — SEC chairman Francis Lim, in reaction to threats that some of those affected by the proposed…
Instead of cultivating new talent and ideas, term limits have perpetuated a cycle of mediocrity and political substitutions within families.
Board composition at the exchange level is therefore a concern of all market participants.
‘That term limit is the real problem. For me, political dynasty is not the issue.’
Ombudsman Jesus Crispin “Boying” Remulla criticizes term limits under the 1987 Constitution, arguing they weaken governance and hinder lawmakers' development.…
The Securities and Exchange Commission has proposed term limits for broker-directors serving on exchange boards, aiming to strengthen governance, enhance…
The Philippine Bank of Communications appoints former Landbank president Cecilia C. Borromeo as independent director, replacing Gilda E. Pico after her…
The Maharlika Investment Corporation has named banking and finance veterans Rolando Peñaflor and Enrico Cruz as independent directors to its board.
Concerns over independence are further amplified by the growing demand for seasoned independent directors, many of whom serve on multiple boards across…
Another study finds that long-tenured independent directors are associated with less effective monitoring and higher levels of insider trading.
The SEC argues that a long tenure and likely closer relationship developed with the controlling shareholders over time may compromise the impartiality and…
By defining tenure and limits, the SEC ensures that independent directors do not merely exist in form but function in substance as true checks on management.
Setting term limits prevents complacency and ensures the regular infusion of fresh perspectives, an essential ingredient in effective corporate governance.
The court’s findings set a precedent. First, it noted that Boeing’s board lacked a committee with direct responsibility for overseeing aircraft safety.
While many companies have come to value and even rely on long-serving independent directors for their experience and institutional knowledge, there is growing…
As more companies embrace the principles of good governance, the demand for independent directors has increased, leading to a rise in available board seats.