Explanation:
The CEO should not be the chairman of the board because there is already an inherent conflict with the CEO being on both the management team and the board of directors. As a result, the CEO should not be given additional powers on the board.
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Question 54
Which of the following statements is least likely a corporate governance best practice for a board of directors? The board of directors should:
A
consist of a majority of independent members.
B
protect the interests of debtholders.
C
maintain independence from management.
D
appoint a chief executive officer (CEO) to serve as chairman of the board.
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