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The company also said it has named Rajiv Gupta as lead independent director, effective immediately.
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Kevin Daley, now the lead independent director, will be interim Chairman.
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The Board of Directors has not named a lead independent director.
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's board of directors, and is currently lead independent director.
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As they deliberated, Mr. Andreessen and Robert Ryan, the lead independent director, walked to Mr. Hurd's office to tell him the board planned to disclose Ms. Fisher's allegations and portions of the investigation, say people familiar with the proceedings.
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But the board stipulated that a Miracle-Gro co-pilot must be present when Mr. Hagedorn ferries a colleague, an arrangement that lets him "stay true to his love of flying while also minimizing the risk to the company and its shareholders, " says lead independent director Carl F.
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While thanking Forsee on behalf of the company, IrvineHockadayIrvine Hockaday, lead independent director, said the decision to seek a new CEO was based on the belief it was the right time to put in place new leadership as the company tries to improve its performance and reach its goals.
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They should appoint a lead independent director to balance the power of--or even serve as--the chairman, who these days too often happens to be the CEO. (That should not be allowed.) Finally, directors should be paid primarily with long-term grants of stock, rather than collect a check for showing up occasionally.
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While thanking Forsee on behalf of the company, Irvine Hockaday , lead independent director, said the decision to seek a new CEO was based on the belief it was the right time to put in place new leadership as the company tries to improve its performance and reach its goals.
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The board then set up a special committee, led by independent lead director Alex Mandl.
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