A firm has a brand new CEO who was promoted from within the firm. The majority of its stock is held by institutional investors and its managers are compensated heavily with stock,. This firm operates in a complex industry which is rapidly changing. Given these features, and supposing you had the opportunity to recommend a board structure for this firm, please argue for and recommend the following:
(a) what the size of the board should be (small versus large)
(b) whether the CEO should also be the Chair
(c) whether the board should be predominantly comprised of outside versus inside directors
(d) Any other feature (of your own choosing).