Avoid serving too long with one company, says watchdog

An independent director should not serve too long a tenure with one company and should avoid being a director on too many boards, the Minority Shareholder Watchdog Group (MSWG) said.

MSWG chief executive officer (CEO) Abdul Wahab Jaafar Sidek said it is important that an independent director be appointed with a fixed tenure to be able to give time to the companies that are paying for the service.

“(Independent director) must have the will and power to act in the best interests of the company, the shareholders and other stakeholders, freely independent of the management led by the CEO and executive directors (EDs),” MSWG said in a statement.

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