New York (Aug. 21, 2003) -- Thanks to Sarbanes-Oxley, companies are starting to address shareholder concerns and make changes to their board structures, practices and compensation, according to a survey by Buck Consultants.
Among the companies surveyed, 56 percent have already or are actively considering seeking new board members with specific expertise; 54 percent have or are considering realigning the membership of board committees; and 49 percent have or are considering hiring outside or independent consultants. Forty-six percent have or are considering increasing the frequency of committee meetings; 43 percent have or are considering holding board meetings without company management present; and 32 percent have or are considering providing director education.
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