What is an independent board chairman?

An independent director, in corporate governance, refers to a member of a board of directors who does not have a material relationship with a company and is neither part of its executive team nor involved in the day-to-day operations of the company.

Who is ISS Glass Lewis?

What are ISS and Glass Lewis? ISS and Glass Lewis are the two most prominent proxy advisory services, at least in North America. Because institutional investors sometimes hold hundreds or thousands of different stocks at a point in time, they tend to need assistance in voting their shares come annual meeting time.

How are independent directors in the board different from other directors?

9.2 The expression ‘independent director’ should mean a non-executive director of the company who :- a) Apart from receiving director’s remuneration, does not have, and none of his relatives or firms/companies controlled by him have, any material pecuniary relationships or transactions with the company, its promoters, …

What is the sitting fee of an independent director?

According to Rule 4 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, a company may pay a sitting fee to a director for attending meetings of the Board or Committees thereof, such sum as may be decided by the Board of Directors thereof which shall not exceed Rs 1 lakh per meeting of

What is the role of an independent chairman?

The independent chairperson can act as the main point of contact for shareholders and may assist to ensure objective board decisions, i.e. to ensure the board establishes a balance between the interests of management and the company’s stakeholders (including shareholders).

Is Glass Lewis a good company?

Glass Lewis & Co has an overall rating of 4.1 out of 5, based on over 233 reviews left anonymously by employees. 79% of employees would recommend working at Glass Lewis & Co to a friend and 69% have a positive outlook for the business. This rating has improved by 5% over the last 12 months.

How do proxy advisors make money?

What are their functions? Proxy advisory firms put out detailed reports that advise shareholders on how they can safeguard their interests. They also provide independent voting recommendations. In return, they charge fees from institutional investors for their services.

Where is Glass Lewis based?

Founded in 2003, Glass Lewis is headquartered in San Francisco and has offices in New York, Washington DC, Kansas City, Ireland, Germany, and Australia. In September 2006, Glass Lewis acquired Sydney-based proxy advisory firm Corporate Governance International, which then became known as CGI Glass Lewis.

What does a proxy advisor do?

What Are Proxy Advisory Firms? Proxy advisory firms provide institutional investors with research and data, as well as recommendations on management and shareholder proxy proposals that are voted on at an organization’s annual and special meetings.

Who owns Institutional shareholder Services?

What Are Proxy Advisory Firms? Proxy advisory firms provide institutional investors with research and data, as well as recommendations on management and shareholder proxy proposals that are voted on at an organization’s annual and special meetings.

Who governs ISS?

This means that the owners of the Space Station – the United States, Russia, the European Partner, Japan and Canada – are legally responsible for the respective elements they provide. The European States are being treated as one homogenous entity, called the European Partner on the Space Station.

Can an independent director be the chairman of the board?

The Chairman shall be an Independent Director and should not be the Chairman of the Board or of any other Committee. At least one member of the Committee must have relevant thorough knowledge and experience on risk and risk management.

Do independent directors get paid?

Independent Director salary in India ranges between ₹ 1.2 Lakhs to ₹ 98.4 Lakhs with an average annual salary of ₹ 32.0 Lakhs. Salary estimates are based on 12 salaries received from Independent Directors.

Can independent director be appointed as chairman?

The non-executive independent directors are generally given the chairmanship of important committees like Audit committee, Nomination committee and remuneration committee. They are closer to action. They can question the executives directly. They observe from a distance how well executives are performing their duties.

Do you get paid if you sit on a board of directors?

Compensation Differs Greatly For Board Service

As I mentioned, compensation for publicly-held and privately-held companies is greatly dependent upon the size of that company and may range anywhere from $75,000 to $500,000 a year.

Are directors sitting fees taxable?

As per Section 194J(1)(ba), any remuneration or fees or commission by whatever name called other than those on which tax is deductible under Section 192, to a director of a company shall be liable for TDS under Section 194J.

What are the benefits of independent directors?

Is chairman a high position?

The highest position in a company is the chairman.

They’re the core manager of a corporation. However, the chairman is technically at the tippy top of a company’s hierarchy because they have the authority to appoint, assess and even fire the CEO.


  1. https://corporatefinanceinstitute.com/resources/career/independent-director/
  2. https://www.glasslewis.com/
  3. https://www.kellogg.northwestern.edu/executive-education/the-kellogg-experience/thought-leadership/iss-glass-lewis.aspx
  4. https://www.mca.gov.in/Ministry/reportonexpertcommitte/chapter4.html
  5. https://www.scconline.com/blog/post/2021/09/20/remuneration-to-non-executive-directors/
  6. https://www.mardigras.org.au/wp-content/uploads/2022/03/theroleofthechair.pdf
  7. https://www.glassdoor.ie/Reviews/Glass-Lewis-and-Co-Reviews-E264399.htm
  8. https://www.kotaksecurities.com/ksweb/articles/a-dummys-guide-to-proxy-advisory-firms
  9. https://en.wikipedia.org/wiki/Glass_Lewis
  10. https://www.glasslewis.com/the-role-of-proxy-advisory-firms/
  11. https://www.esa.int/Science_Exploration/Human_and_Robotic_Exploration/International_Space_Station/International_Space_Station_legal_framework
  12. https://www.smfb.com.ph/files/reports/SMFB_Charter_of_the_Board_of_Directors.pdf
  13. https://www.ambitionbox.com/profile/independent-director-salary
  14. http://www.legalservicesindia.com/articles/cor.htm
  15. https://womenintheboardroom.com/articles/just-how-much-do-corporate-board-directors-get-paid/
  16. https://taxadda.com/tds-on-remuneration-paid-to-directors-under-section-194j1ba/
  17. https://idealsboard.com/the-benefits-of-independent-directors/
  18. https://www.zippia.com/advice/chairman-vs-ceo/