Internal and external corporate governance provisions and activities can take many forms, including the use of interlocking board members. Which of the following best describes this practice? This practice requires that all members of a firm's board of directors be elected in each election. In this situation, a firm's CEO also serves as the chairperson of the board and personally selects all of the members of the firm's board. In this situation, a board member of one firm also serves as a member of another firm's board or on its management team