I could be mistaken but I believe there are rules in place for public and private companies, as well as non profits, regarding director independence and employe

I could be mistaken but I believe there are rules in place for public and private companies, as well as non profits, regarding director independence and employees are not considered "independent directors". This came, I believe, as a result of the Enron scandal. Surely this has some role in why employees are not on boards. Here is a link to a Nasdaq policy on the matter[1]. [1] https://www.sec.gov/rules/sro/34-47516.htm https://www.sec.gov/rules/sro/34-47516.htm