CEOs who are also board chairs are the problem not the solution, says top governance expert

Group 1 - Citigroup's CEO Jane Fraser has taken on the additional role of board chair, a move that aligns her with other major bank CEOs but raises governance concerns [1][4] - Charles Elson, a corporate governance expert, criticizes the dual role of CEO and board chair, arguing it undermines the board's oversight function [2][4] - Historically, over 90% of traded companies had CEOs also serving as board chairs in 1990, but this has changed significantly due to the influence of institutional investors [2][4] Group 2 - The financial crisis of 2008-2009 prompted companies like Citigroup and Bank of America to separate the roles of CEO and board chair, but recent trends show a reversion to this dual role [4][5] - Currently, only 40% of Fortune 500 companies have CEOs who are also board chairs, indicating a shift towards governance separation [5] - The rise of the "executive chair" role allows a recently retired CEO to maintain influence over company operations while not holding the title of CEO, effectively blurring the lines of governance [5]