Until the 1970s, corporate boards were dominated by inside directors; however, as of 2023, 85% of directors are independent due to changing perceptions.
Empirical studies have found no connection between board independence and company performance outcomes; thus, leaders should reconsider the roles of inside directors.
Inside directors possess a deeper understanding of a company's strategy and market competitors, which can enhance decision-making and long-term success.
Only having independent directors may lead to an imbalance of power, granting CEOs excessive control without necessary oversight from inside perspectives.
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