Which one of the following statements is TRUE?

a. The more members of a board of directors, the better its function.

b. Since outside directors have no other connection with the firm, they are indebted to the CEO for putting them on the board.

c. Inside directors are more concerned with shareholders' interests since they are more closely concerned with firm operations.

d. In a classified board, it is easier for dissidents to gain representation since fewer seats are up for election each year.

e. Inside directors are likely to side with the CEO since they are employees.