Answered

Westonci.ca is your go-to source for answers, with a community ready to provide accurate and timely information. Ask your questions and receive accurate answers from professionals with extensive experience in various fields on our platform. Connect with a community of professionals ready to help you find accurate solutions to your questions quickly and efficiently.

A company is planning to conduct an IPO and has decided to list its stock on Nasdaq. If the company currently has nine directors on its board, but only four of them are independent, the company must appoint a minimum of:

Sagot :

Parrain

Answer: D. Two new independent directors

Explanation:

Nasdaq rules require that companies listing should have more independent directors on a board than dependent ones as it is believed that they would be able to better protect the interests of shareholders.

In order to fulfill this requirement therefore, the company would have to appoint two new independent directors which would increase the number of directors to 11 and the number of independents to 6 thereby giving them a majority.

We hope our answers were useful. Return anytime for more information and answers to any other questions you have. We hope our answers were useful. Return anytime for more information and answers to any other questions you have. Thank you for choosing Westonci.ca as your information source. We look forward to your next visit.