Spencer Stuart has released its annual report on S&P 500 board practices, a useful guide for benchmarking. The overall trends demonstrate few changes from the prior year, leading the report to conclude that there is a “chronic low rate of director turnover,” bringing about “gradual shifts in the complexion of U.S. boards,” and a “continued incremental evolution.” The key data is below, with the statistics largely similar to prior years.
New directors added. On average, S&P 500 boards added .88 directors. Slightly more than a majority (57%) added at least one new director, and 22% appointed two or more. Women account for 40% of new directors, and 19% are minorities, a slight decline from last year.