Spencer Stuart: U.S. Board Index 2016

The 2016 edition of the Spencer Stuart U.S. Board Index places particular focus on growing interest by institutional investors in board composition and performance, highlighting trends in new director recruitment, independent board leadership, tenure and term limits, mandatory retirement, board evaluation and shareholder engagement.

Among the findings:

• There was a small decline in the number of new independent directors elected to S&P 500 boards during the 2016 proxy year, from 376 in 2015 to 345 in 2016.
• 32% of the new independent directors on S&P 500 boards are serving on their first outside corporate board.  This is compared to 26% in 2015.
• Women account for 32% of new independent directors, the highest rate of female representation since 1998, when Spencer Stuart began tracking data for S&P 500.  
• 2016 has led to an increase in investors and investment managers on boards. This year, 12% of new independent directors are investors, compared with 4% in 2011 and 6% in 2006.
• Only 43% of S&P 500 CEOs serve on one or more outside corporate boards in addition to their own board. In 2006, 55% of CEOs served on at least one outside board.

To view the full report, click here.