Ever since stock-listing requirements prompted many U.S. companies to name an independent director to serve as the chairman, lead director, or presiding director of the board, these companies have been grappling with what, exactly, this board leader should do and how to find the right person for the job.

To examine how the new board leader role has evolved, and the best practices for appointing one, an invitation was extended to 11 current and former board leaders of large U.S. companies to share their views and experiences.