General Discussion Topics, page-137683

This is part of a post by @Watmighthavben. Post #: 73567904 It seems relevant to SYA.

According to the UK Corporate Governance Code, the recommended tenure limit for the chair is 9 years, for after 9 years they are no longer considered independent. In many instances, this acts as a ‘de facto’ ceiling on tenure. iod.com goes on to note that directors who serve for an excessive period of time leave themselves open to accusations, from investors and other stakeholders, of losing their independence and becoming too close to company management.

Tenure limits can be a great tool for companies to appoint younger directors, with fresh perspectives and from diverse backgrounds, who bring a different approach. It can also be useful for getting rid of those who have outlived their usefulness or don’t contribute much. A regular dose of fresh blood on the board helps prevent the concentration of power within a cosy club. New perspectives and a healthy exchange of views is a key aspect of an effectively functioning board.

How's the search for a permanent CEO going?