The Hospitality & Leisure Corporate Governance Snapshot highlights trends in director recruitment, board processes and compensation for 17 U.S. hospitality and leisure companies, and compares them to the broader S&P 500 index.
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Key findings include the following:
- One hundred percent of hospitality company boards have at least one female director, up 11 percentage points from last year.
- The average age of independent directors on hospitality company boards is 60.8, more than two years younger than the S&P 500 average of 63.0.
- The average tenure of hospitality company boards is slightly shorter than the S&P 500 average, 8.1 years versus 8.3.
- Fifty-nine percent of hospitality company boards separate the chairman and CEO roles, compared with 48% of S&P 500 boards.
- Eighty-two percent of hospitality company boards have annual director elections.
- Only 41% of hospitality company boards report having a mandatory retirement age for directors, compared with 73% of S&P 500 companies.
- The total average per-director compensation for hospitality company directors is $260,651, compared to the S&P 500 average of $285,065.