Frank is a board member at Lofloy Greens Inc.,a publicly traded company.In addition to his duties on the board,Frank is also a full-time employee as a senior manager at Spinson Locomotives Inc.Which of the following is most likely to be true of Frank?

Question

Quizplus · Accepted Answer

Frank is an outside director on Lofloy's board of directors. Outside directors are not employees of the firm. They frequently are senior executives from other firms or full-time professionals, who are appointed to a board and who serve on several boards simultaneously. Given their independence, they are more likely to watch out for the interests of shareholders.

Frank Is a Board Member at Lofloy Greens Inc