In 2019, independent directors exit in droves as tighter scrutiny bites

Experts say people are getting more and more selective about joining boards of companies, while basing their decision on several qualitative factors

High-profile corporate frauds, accounting discrepancies, and the coming into effect of global anti-corruption laws have led to the exit of close to 1,400 independent directors this year, the highest in the past seven years for which data was analysed.
 
While 1,394 directors quit, 1,112 were appointed, implying a net deficit of 282.
 
Exits in the September quarter numbered 488, the highest in the year. According to experts, the terms of about 1,500 independent directors who had signed up for five-year tenures in 2014-15 were up for renewal this year.
 
Independent directors can get a second term after