The designation of "independent" Audit Committee members at Newell Rubbermaid means that the board of directors cannot remove Audit Committee members from office.

Question

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The designation of "independent" Audit Committee members refers to their independence from the company's management to ensure unbiased oversight, not to their irremovability by the board of directors. The board typically retains the power to appoint or remove committee members.

The Designation of "Independent" Audit Committee Members at Newell Rubbermaid