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How 'independence' adds up for director

When Jonathan Kitchen retired as a director of Lazard Brothers in January it was not surprising when he turned up as a non-executive director of former clients Securicor, the following month.

Although this means that in the eyes of some critics he is probably not independent, it is one of those cases where the benefits outweigh the hindrances, particularly since all four of the other non-execs are truly independent.