Outside Directors May Be Forced on Big Firms in Japan

A Japanese government panel will propose mandatory appointments of outside directors on boards of large firms in the hope of averting the kind of accounting scandal that has engulfed Olympus.

But expectations of meaningful change are not high, and experts say the process in which companies pick outside directors may also need regulatory adjustment.

The British ex-CEO of Olympus, Michael Woodford, emerged from a meeting of directors on Friday convinced its board would eventually quit.

Read the rest of the story: Japan May Force Big Firms To Appoint Outside Directors.

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