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In the wake of accounting scandals and regulatory crackdowns, companies are planning big changes to their board of director programs, plans, and policies.
Hewitt Associates recently polled 70 large public U.S. companies for its survey, Timely Topics Study on Corporate Governance, and found that 29 percent of these organizations planned to increase the percentage of outside directors in 2003, compared to 12 percent of companies in 2002.
"There is a struggle taking place between the growing need for qualified directors, and the reluctance by some candidates to join boards due to increased time requirements and potential reputational and financial risk issues," Michael Powers, leader of the Executive …