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Webster's New World Finance and Investment Dictionary » outside director
outside director
outside director definition - finance
A
director on a companyÂ’s board who isnÂ’t employed by the corporation. With the
passage of the Sarbanes-Oxley legislation in 2002, a greater emphasis has been
placed on having outside directors on a companyÂ’s board of directors. It is
illegal for outside directors to sit on the boards of competing companies.
Webster's New World Finance and Investment Dictionary Copyright © 2003 by Wiley Publishing, Inc., Indianapolis, Indiana.
Used by arrangement with John Wiley & Sons, Inc.
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