It is desired that independent outside directors can bring new insights and balance to a team; however, some downsides may also exist. Stockholders and politicians pushed for more independent outside directors for large corporations in the wake of the Enron collapse in the early part of the 2000s. A company should always have a balance of both outside and inside directors, though in developing markets, independent directors are often outnumbered by owner directors. However, if one would ask -- how independent are the independent directors, I am sure most of the people will be uncanny with the answer. In the developed world, most of the successful companies are being run by independent directors and more importantly, the professional management.

Source: Dhaka Tribune September 13, 2020 08:37 UTC