It is the job of independent directors to act as a counterweight to management and help protect shareholder value.

FORBES: Japanese Business Culture and Why Good Governance Matters

Even well-known companies like Canon, Toyota, Nintendo and Suzuki have not appointed even one independent director to oversee operations and help protect shareholder value.

FORBES: Japanese Business Culture and Why Good Governance Matters

Many commentators are now arguing that board diversity should be seen as part of a broader set of governance policies that companies can implement to help foster functional boardroom cultures and help protect shareholder value.

FORBES: Corporate Diversity Initiatives: Risk and Reward for Investors