A study of 1,433 U.S. companies by Institutional Shareholder Services found that 41 percent divided the responsibilities of chairman and chief executive officer in 2006. Only 13 percent of companies considered their chairman to be independent compared to 12 percent a year earlier.
Companies that are seeking greater board independence are opting for a “lead” or “presiding” director to oversee board matters and meetings. ISS found that 57 percent of companies had a lead or presiding director in 2006, compared with 52 percent a year earlier.
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