interlocking directorates 2003

[Eubulides]

http://store.thecorporatelibrary.net/publications/files/Interlocks2003.pdf

PRESS RELEASE Corporate and Director Interlocks in the USA: 2003 Contact: Jackie Cook (207) 874-6921
jcook at thecorporatelibrary.com September 22, 2003

William Gray, Shirley Jackson, Edward Brennan, Samuel Nunn, and Helene Kaplan, are at the heart of
interlocking corporate board relationships according to a report issued today by independent corporate
governance research firm The Corporate Library.

Its first Corporate and Director Interlocks benchmark report charts a path through the complex web of
relationships among 13,000 US corporate directors and the 1,727 large corporations on whose boards they serve.
The Corporate Library's Board Analyst Database includes detailed information on the corporate board members of
the top 2,000 publicly traded US corporations. Its Interlocks Tool makes it possible to map the relationships
among them - not just corporate, but also non-profit, trade association, and other affiliations, even
membership in the exclusive Augusta Golf Club.

There are three main parts to the study, each guided by a clear objective. These are to

. provide a broad descriptive analysis of the degree of 'connectivity' among large US corporations and their
directors,

. identify specific patterns of relationships that compromise board independence, and

. explore methods for identifying the most influential directors. The report includes a number of methods for
evaluating the centrality and influence of directors and companies in the larger corporate network. The study
finds that board structure and patterns of board interrelationships are strongly related and the implications
of this correlation are explored.