Charles Elson, director of the John L. Weinberg Center for Corporate Governance at the University of Delaware, believes that directors should serve for approximately 15 years, but acknowledges that there are going to be circumstances where a director will serve longer than that. He said that setting ...
Nominating and Corporate Governance Committee regularly considers the long-term makeup of our Board of Directors and how the composition of our board changes over time.
I've been around too long not to know that sometimes your best director for the next four years is someone who has been on the board for 12 years.
I have become a believer in average term-limits as a policy change that I would promote.
While we support regular board refreshment, we are not opposed in principle to long-tenured directors, nor do we believe that long board tenure is necessarily an impediment to director independence.
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