Energy Conversion Devices has just announced an increase in independent directors serving on its board from four to six through the appointments of Pasquale Pistorio and George A. Schreiber, Jr. That brings the total number of directors to eight.

This news follows their recent announcement of a narrowing Q4 loss which raised their stock price 15% on the same day.

The reality is that post-Enron, billion dollar companies must be perhaps more cautious than ever and the appointment of additional independent directors to keep an eye on things has to be welcomed.