Bloomberg Law
March 17, 2023, 9:00 AM UTC

DOJ Probe of Overlapping Board Members Fuels Governance Concerns

Clara Hudson
Clara Hudson
Reporter

Companies with directors sitting on competitors’ boards have found it easier to part ways with those members rather than fight the Biden administration’s aggressive probe of board overlaps for potential antitrust violations.

The Department of Justice announced last week that five board directors at three companies stepped down after the antitrust division asked them about their “interlocking” directors. The resignations were at Qualys Inc., software firm N-Able Inc., and Sun Country Airlines Holdings Inc.

The DOJ isn’t stopping there: in a speech earlier this month, antitrust chief Jonathan Kanter said the department has 17 active investigations into possible overlapping board ...

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