UMP Institutional Repository

Little Boardroom Dissent

Cheah, Chor Sooi and Hasnah, Haron (2016) Little Boardroom Dissent. FocusM . pp. 10-12.

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Abstract

Early last month, Bank Negara Malaysia mandated that boards of banks have a majority of independent directors who should not serve for more than nine years. At last count, only five of the 10 listed banking groups have a majority of independent directors, and three have equal numbers of independent and non-independent ones. Of the 83 directors, 43 or 52% were independent. So how do listed blue chips compare with the banking groups? Research by FocusM shows that 20 of the boards of the 30 FBMCI companies have a majority of non-independent directors, and only 10 with more independent ones. Overall, only 50%, or 137 of the 274 directors, are independent. Broadly, 51 (18.6%) are executive directors, mostly CEOs and managing directors, and 223 (81.4%) are non-executive directors who are either independent or non-independent.

Item Type: Bulletin
Uncontrolled Keywords: Board of directors; Bank Negara Malaysia
Subjects: H Social Sciences > HF Commerce
Faculty/Division: Faculty of Industrial Management
Depositing User: Noorul Farina Arifin
Date Deposited: 19 Sep 2016 03:54
Last Modified: 19 Sep 2016 03:54
URI: http://umpir.ump.edu.my/id/eprint/14399
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