The Research Of The Appointment And Removal Procedures Of Independent Directors

China's securities market has only twenty years from the establishment of the time, but Britain and other developed countries have gone through a hundred years covered, Despite the rapid development for China's securities market has greatly increased the amount of wealth, because of financing a listed company in the market has a big development, but there are still big problems in governance of listed companies. Independent director is a produced in the United States which improves corporate governance structure of the system, its emergence and development of the market are in line with Britain and the U.S. objective of corporate governance requirements. After the introduction of the system in our country, and did not play its intended function. In practice, the independence of our country's lack of independent directors, most directors and consultants become " director of the vase".The reason, I think that the lack of appointment and removal process is the key factor in the failure of independent directors.In this paper, the Independent Directors of Listed discussed the appointment and removal procedures for the focus. By comparing the study of China and the Anglo-American countries, History of the independent director system and mechanism,analysising of the current status of independent director appointment and removaling procedures and found problems,constructioning of China puts forward the recommendations of the independent director appointment and removal procedures,hoping that in our particular market environment, learning from Anglo-American countries the experience of advanced and mature,making the independent director system in China more scientifically sound, improving the corporate governance role.In the first part of the introduction, I analysis that procedure for the appointment and dismissal is the importance of the independent director system. Independent director system in China, there are some issues, including conflict with the functions of the board of supervisors, the lack of effective incentive mechanism, such as power and responsibility is not clear, But the main obstacles is that the role of independent directors are not strictly rational as our independent director appointment and removal process and leading lack of independence of independent directors.The second part is an overview of the independent directors of the appointment and removal mechanisms, FirstⅠintroduce the history of Independent Director System and the Independent Director System evolution. Second, I comparative analysis the Anglo-American countries and China for the independent directors of the different functional orientation, Then, I compare the qualifications of independent directors of research.The third part, I have a more detailed study of the appointment process of independent directors of the Anglo-American countries. Originated in the Anglo-American countries, independent directors, while the most mature development of Anglo-Saxon countries, Therefore, the study of the system also need to start from the Anglo-American countries. From the nomination, election and removal of the three links can be drawn, independent director appointment and removal process is very effective, It is not only consistent with their functional orientation, and the program also ensures the legitimacy of independent directors on the effectiveness of an entity.The fourth part, I study status of independent director appointment and removal procedures, and found that in the process of the specific problem.The fifth part, I focus discussion on how to improve our procedures for appointment and removal of independent directors of listed companies. From the nomination, election and removal of the three links, and the realities of our unique market environment, I propose the appointment and removal of building procedures.