1. What is the role of outside directors? How do they serve the corporation?
2. Traditionally, outside directorships were given to chief executives and the chairmen of other boards, not CFOs. What has changed? Why do companies seek the expertise of the chief financial officer from another company?
3. Why has there also been a decline in the number of chief executives willing to serve as outside directors?
4. Why have some CFOs declined the opportunity to serve as outside directors? Please provide answer to each question with a number for clarity.