What's often lost in debates about the state of corporate governance is the magnitude of change we have already seen in corporate boards. A growing number of boards embrace corporate governance best practices and continue to improve their effectiveness—even in the absence of government regulation or specific shareholder pressure. Many of the trends in the composition and governance practices of corporate boards are reflected in the data compiled for the Spencer Stuart Board Index (SSBI). The index is the result of a careful study of the proxies of companies in the Standard & Poor's 500-stock index and tracks trends in board service, the careers and backgrounds of new directors, and the policies and processes of these boards. This column, published by Businessweek.com, highlights what has already changed in America's corporate boardrooms as revealed in these data.
Read the full article first published on Businessweek.com on March 16, 2010.