History of Board of directors

	Revision 3 . . December 18, 2001 3:02 am by Aripap [Added info on subcommittes]
	Revision 2 . . December 16, 2001 10:37 am by (logged).93.53.xxx
	Revision 1 . . December 16, 2001 1:35 am by Aripap [Wrote overview]

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Difference (from prior major revision) (no other diffs)

Added: 6a7,8

The board is run by the chairman of the board who may or may not be an employee of the company. In larger companies the board is partitioned into several committees with specific tasks. For example, a compensation? committee is commonly formed to make decisions regarding salary and stock allocations for top management (and sometimes for the entire employee pool). Others might include a legal affairs committee, and a mergers and acquisitions committee.

Changed: 9c11

to have outside directors who can provide a perspective on a situation which is independent from management.

to have [outside directors]? who can provide a perspective on a situation which is independent from management.