This section summarizes the findings of the 2007 study on Quebec's 50 largest corporations in 2006 and 2007, by income. The sample of the 100 biggest companies in Canada used for comparison purposes includes 23 Quebec companies.
- Boards of directors in Quebec have an average of 11 members.
- The median age of directors in Quebec is 61 years old. The median age for board chairs is 66.
- The typical director has sat on the board for nine years, compared to 13 years for the typical chair.
- Some 75% of board members are considered "independent" from the firm’s management.
- In 64% of organizations, the chair of the board of directors and the CEO are not the same person.
- Women held 14% of directorships in Quebec. This figure is comparable to statistics for the rest of Canada and the United States. Nearly one board in six has no female members.
- Close to three-quarters of Quebec businesses have a least one director from outside Canada.
- In 2006-2007, Quebec’s boards held an average of nine regular meetings.
- Most boards have formed three committees: an audit committee, an appointment and/or governance committee, and a human resources committee.
- The median annual compensation for Quebec directors is $54,714 compared to $43,731 last year. This includes data from a half a dozen multinationals based in Quebec. Size is
an important factor in director compensation: as a general rule, the bigger the company, the higher the compensation. These figures include directors' and committee members'
fees.
- Companies that offer share-based compensation plans provide higher compensation ($66,766) than those that offer cash-only plans ($38,087).
- Directors in the metals and transportation sectors earn the highest median compensation ($110,000 and $108,500).
- Typical directors' fees in both Quebec and the rest of Canada amount to $1,500.
- Typical committee members' fees in both Quebec and the rest of Canada amount to $1,500.
- Fixed fees offered to committee members in both Quebec and the rest of Canada stand at roughly $3,000.
- Fixed fees offered to board chairs in Quebec stand at roughly $5,825, compared to $7,500 elsewhere in Canada. Audit committee chairs typically receive $10,000 in Quebec and $15,000 in the rest of Canada.
- The median annual compensation paid to board chairs is $190,000. This does not include data from some 20 firms where the position of chair is not compensated because it is occupied by a company executive.
- 60% of the companies interviewed formally evaluate the performance of their board chair, compared to 87% in the rest of Canada.
- Quebec companies actively seek out directors with industry and global market expertise.
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