The Farce of Independent Directors - I
“You don’t get invited to be on boards if you belch too often at the dinner table,” said Warren Buffett at the company’s annual meeting in Omaha, Nebraska, in May 2019. “I’ve been on 20 public company boards; I’ve seen a lot of corporate boards operate. The independent directors, in many cases, are the least independent,” he explained. If directors get about $250,000 a year, and that’s an...
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