Mike Vicente, the Chairman of the board and CEO of Lani Industries Inc., has long been the major power at Lani. A majority of the directors ate concerned that while Mr. Vicente has been responsible for the firm's earning above-average returns, he has been displaying a tendency toward personal extravagance at the firm's expense. In order to limit Mr. Vicente's power, the board of directors plans to

Mike Vicente, the Chairman of the board and CEO of Lani Industries Inc., has long been the major power at Lani. A majority of the directors ate concerned that while Mr. Vicente has been responsible for the firm's earning above-average returns, he has been displaying a tendency toward personal extravagance at the firm's expense. In order to limit Mr. Vicente's power, the board of directors plans to

a. elect an insider as the lead director

b. require Ms. Vicente to personally certify the firm's financial reports

c. reduce the size of teh stock option package provided to Mr. Vicente.

d. appoint another individual as chairperson of the board of directors.