The article argues that many countries have failed to create a reliable system of independent directors in companies. This is because CEOs and controlling shareholders have too much influence over the appointment and removal of independent directors. In companies with dispersed ownership, letting shareholders decide on independent directors can increase credibility. But in firms with controlling shareholders, this can lead to favoritism towards the controlling shareholders. This lack of confidence can harm firms' access to finance and capital markets. The article suggests a new system for appointing and removing independent directors to provide better protection for minority investors and improve decision-making in the boardroom.