Stop Serving so Many Masters, Corporate Japan Tells Directors

The corporate governance code adopted by the Tokyo Stock Exchange last year specifies that a listed company should appoint at least two independent directors. Positions at outside companies “should be limited to a reasonable number,” it says.┬áBusinesses are hungry for outside expertise for reasons beyond simply complying with governance guidelines and preventing scandals. Continued growth in an increasingly competitive landscape demands fresh perspectives that longtime insiders lack.

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