Notes:

• Combined CEO/Chair: One person holds both roles. Common in the US but criticized for lack of checks and balances.
• Separated CEO/Chair: Distinct roles provide stronger oversight. Recommended by the UK Code and many global investors.
• Lead Independent Director: If the CEO is Chair, a Lead Independent Director is appointed to preside over executive sessions and act as a liaison to independent directors .
• Impact on Oversight: How leadership structure affects the board’s ability to challenge management and oversee strategy.