Several members of the board of directors of American Textile Products (ATP) have proposed creating the position of lead director. What circumstances would most likely have initiated this proposal?
A) ATP has been the initiator of several hostile takeovers in the last 2 years.
B) The board has been successful in reducing the percentage of CEO pay that is composed of stock options.
C) The CEO/chairperson of the board has been suspected of opportunistic behavior.
D) The firm is traded on the New York Stock Exchange and must change its corporate governance to comply with the NYSE's new rules.
Correct Answer:
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