Corporate & Securities Law

Silicon Valley companies have reshaped their corporate boards in the wake of the landmark Sarbanes-Oxley Act of 2002 and new stock market rules, according to a survey released today.

Chiseling away at the stereotype that tech CEOs pack their boards with cronies, virtually all directors are independent outsiders, and companies routinely are splitting the roles of chairman and CEO. Moreover, nearly half have officially appointed a lead director, according to an examination of 100 tech companies by Spencer Stuart, an executive search firm that specializes in recruiting directors.

Sarbanes-Oxley rules of '02 reshape Silicon Valley boards of directors