OTHER NEWS - Aug. 16, 1993

Corporate Boards Are More Independent, Survey Says: More than 60% of all U.S. companies have no more than two members of management on their board, according to a study released Sunday by the Conference Board in cooperation with Booz Allen & Hamilton. Researchers interviewed 546 U.S. corporate executives, finding that 94% of manufacturing and financial firms and 93% of non-financial companies had a majority of members who are not employees, suppliers or customers. Jeremy Bacon, a consultant who wrote the study, credited “the realization by management, directors and the investment community that a strong board has become a necessity rather than simply a matter of appearance.”