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Surveys & Benchmarking
2024 Inside the Public Company Boardroom
02/15/2024
Public
Surveys and Benchmarking
Benchmark your board’s composition, structure, and skill sets to boards in the Russell 3000. Get insights on these boards based on the latest available data. This report presents trends over time and across company sizes, from Nano-Cap to Mega-Cap.
Key Findings
THE USE OF BOTH EXECUTIVE AND FINANCE COMMITTEES HAS STEADILY DECREASED across Russell 3000 companies since 2019. Meanwhile, the use of Environment, Health, and Safety committees has increased slightly from the previous year.
BOARD INDEPENDENCE INCREASED IN 2023, continuing a recent trend. After reaching a low in 2020, the percentage of boards in which at least three-quarters of members are independent has slowly but steadily grown across companies in the Russell 3000.
THE MOST RECENT CLASS OF DIRECTORS appointed to boards has a higher percentage of members with technology, human capital, ESG, cybersecurity, and digital skills.
FEMALE DIRECTORS ACCOUNTED FOR 28 PERCENT OF THE DIRECTORS in the Russell 3000 this year, up from 27 percent last year. While this 1 percentage point change represents an increase, it is on a smaller scale than in recent years.
THE AVERAGE DIRECTOR AGE (61) AND TENURE (SEVEN YEARS) remain effectively the same relative to recent years, as those born between 1946 and 1964 (“Baby Boomers”) continue to account for more than three-quarters of Russell 3000 directors.
The Data
The report draws on the latest data from the financial filings of companies in the Russell 3000, provided by NACD partners:
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