Final answer:
The requirement for an even or odd number of board members is not prescribed by any rule; however, having an odd number can prevent voting deadlocks. Corporate governance and shareholder interests should guide the selection of board members, though this process is often influenced by the company's top executives.
Step-by-step explanation:
The number of members on a board of directors does not inherently need to be an even or odd number; there is no absolute rule on this matter. Corporate governance principles and best practices often suggest having an odd number of board members to prevent deadlocks in decision-making, which can occur when the board is split on a decision. Nonetheless, the effectiveness of a board depends on many factors, such as the qualifications and experience of the members, the board's diversity, and how well it represents shareholder interests.
Regarding the selection of board members, it's essential for the firm to act in the interests of the shareholders, who are the true owners of the company. Despite this, the top executives often have significant influence in nominating candidates for the board, which can sometimes lead to conflicts of interest or a lack of independent oversight if not managed properly.