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outside director

   Also found in: Financial, Wikipedia 0.01 sec.
outside director
n
(Business / Commerce) a director of a company who is not employed by that company but is often employed by a holding or associated company


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2008-32, issued on July 7, 2008, provides additional guidance in determining whether an individual qualifies as an outside director for purposes of Sec.
In a recent analysis, Outside Director Liability [58 Stanford Law Review 1055 (2006)], authors Michael Klausner with Bernard Black and Brian Cheffins surveyed all settlements and judgments that they could identify involving litigation against directors.
As part of this drive, ongoing efforts are being made to reinforce and improve the corporate governance structure such as by increasing the number of outside directors and outside corporate auditors.
 
 
 
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