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I am looking to find out if a chairman of a NASDAQ-listed company can serve another company as the chairman. Please cite all sources used, so that I may reference and personally check. I looked through the NASDAQ policies and rules but was unable to find anything.

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Nothing is going to explicitly say that this is authorized — it's allowed because it isn't forbidden by any of the following:

  • The Dodd-Frank Act
  • Sarbanes-Oxley
  • The Securities Exchange Act (1934)
  • The SEC rules
  • The specific NASDAQ listing standards

NASDAQ (and NYSE) has requirements for independent directors and committees (from outside of management), but it doesn't forbid a person from serving on multiple boards of directors of listed companies, as chairperson or otherwise.

If the companies are competitors or have trade secrets they need to keep from each other, etc, then the conflict of interest could prevent serving on both boards.

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