The 2008 Spencer Stuart Sweden Board Index details the current state of board composition, remuneration and board committees at top Swedish companies and shows how companies have adapted their governance practices in these areas.
Major trends include:
- Average remuneration of chairmen and directors is up 46% and 39% respectively since 2004.
- The number of regular board meetings has increased from eight to nine a year.
- Women directors’ representation on the boards has increased from 20% in 2004, to 22% in 2007
- The number of foreign directors is up from 19% to 24%
- 99% of companies report on independence of members of the board of directors while 88% (65%, 2004) are compliant with the Code’s requirements on independent directors with regard to the company and owners.
- The proportion of companies with employee representatives on the board has dropped from 77% (2004) to 63%.
- The average tenure of directors has increased as has average age
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