IN MOST social settings the inability to form attachments would be considered something of a liability. It might even be something for which you would seek help or visit a support group. Not so in the corporate world. There, the inability to form attachments makes you the ideal candidate for a long-standing (in some cases very long-standing) non executive directorship.Nothing shouts cronyism in the corporate community quite as much as boards persuading themselves that long-standing directors are “independent”.As an “independent” the board member qualifies for appointment to any board committee. It’s an important classification with many governance experts regarding the independent director, correctly, as central to the efficient and principled oversight of the company.For those who have difficulty getting their heads around the concept of independence or who have “attachment issues”, the King code provides some guidance on who might fail to be regarded as independent. According to t...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.