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Board Governance: International Comparison Chart

Spencer Stuart publishes Board Indexes covering more than 25 countries around the world. The majority of these Board Indexes are published annually, with a few appearing on alternate years.

We have compiled key data from all these countries into our 2020 International Comparison Chart below, where you can compare nationally aggregated data from leading companies across a wide range of measures from board size, composition and diversity to director tenure and compensation.

For an interactive, graphical representation of international board data visit our Boards Around The World feature.

To explore our many Board Indexes in more detail at country and company level, and to access our latest thinking on boardroom topics, please visit Board Governance Trends.

 

Board metrics

Country Sample size Board meeting/year % boards with an external evaluation % boards with combined chairman and CEO % boards with a vice chair, SID or lead director Av. board size (total) Av. board size (excl. employee representatives) Av. # independent board members % independent board members Av. # non-executive directors Av. # executive directors Av. age: all directors Av. age chairmen Av. age: non-executive directors Av. age: executive directors Av. tenure (chairman and non-executives) % foreign board members (all) % foreign chairmen % foreign non-executive directors % female board directors (all) % female chairmen % female CEOs % boards with at least 30% female directors % new board members % women among new board members % non-nationals among new board members % first time new directors Av. retainer for non-exec directors23 Av. total fees for non-exec directors23 Av. total fee for chairmen Av. fee for audit committee membership Av. fee for remuneration committee membership Av. fee for nomination committee membership
Austria 20 6.0 35.0% 0.0% 95.0% 15.5 12.3 8.8 56.6% 10.4 4.0 56.9 67.1 57.1 53.6 7.7 15.7% 15.0% 22.6% 23.9% 10.0% 5.0% 35.0% 10.6% 39.0% 15.0% 21.2% €27,383 €49,496 €88,538 €11,562 €11,250 €10,357 $30,743 $55,569 $99,402 $12,981 $12,630 $11,628
Belgium 57 9.0 10.5% 1.8% 21.1% 9.6 n/a 4.8 50.2% 4.5 1.2 58.6 62.9 58.5 56.2 7.0 32.1% 21.1% 34.4% 35.5% 5.3% 3.5% 70.2% 5.5% 46.7% 43.3% 29.6% €31,066 €43,827 €136,577 €4,425 €3,030 €2,512 $34,878 $49,205 $153,335 $4,968 $3,402 $2,820
Denmark 25 11.0 24.0% 0.0% 100.0% 9.9 7.0 5.0 51.0% 5.7 0.3 58.9 61.4 58.7 53.2 4.9 50.3% 36.0% 54.2% 31.4% 8.0% 12.0% 72.0% 13.1% 43.5% 69.6% 30.4% €56,721 €79,937 €265,700 €21,932 €16,552 €17,526 $63,681 $89,745 $298,302 $24,623 $18,583 $19,676
Finland 25 12.3 16.7% 0.0% 100.0% 8.6 8.2 6.7 78.5% 7.2 0.0 58.6 62.3 58.1 N/A 4.7 36.6% 12.0% 40.0% 34.1% 4.0% 8.0% 68.0% 11.7% 33.3% 66.7% 41.7% €61,362 €77,962 €165,400 €10,533 €5,873 €5,366 $68,891 $87,528 $185,695 $11,825 $6,594 $6,024
France 120 8.9 86.7% 43.3%2 71.0% 12.4 11.0 6.4 51.5% 10.8 1.0 58.7 62.8 58.4 57.4 5.5 29.3% 21.1% 26.6% 44.6% 5.8% 5.0% 96.7% 11.5% 44.4% 35.1% 69.6% €24,086 €66,094 €251,470 €22,980 €14,546 €14,965 $27,041 $74,204 $282,326 $25,799 $16,331 $16,801
Germany 68 7.1 13.2% 0.0% 100.0% 13.9 7.6 n/a 73.0%3 7.64 5.05 60.44 65.0 56.04 54.05 5.64 30.0%4 13.0% 25.0%4 33.4%4 7.4%4 2.9%5 90.0%4 19.8%4 32.0%4 32.0%4 - €79,000 - €317,754 €30,792 n/a n/a $88,693 - $356,743 $34,570 n/a n/a
India 100 7.5 n/a 27.0% n/a 11.3 n/a 6.0 53.0% 7.9 3.4 62.1 64.6 n/a n/a n/a 6.9% 4.0% n/a 16.3% n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a
Ireland 20 9.8 25.0% 0.0% 95.0% 9.8 9.5 6.0 69.0% 6.5 2.2 59.7 67.0 61.0 53.0 4.6 30.0% 10.0% 38.0% 26.0% 5.0% 15.0% 25.0% 13.0% 48.0% 44.0% 20.0% €64,288 €64,288 €292,059 €16,155 €14,489 €15,894 $72,176 $72,176 $327,895 $18,137 $16,267 $17,844
Italy 38 12.7 73.7% 5.3% 57.9%8 12.0 12.0 7.3 60.6% 9.4 1.9 59.0 63.0 59.4 56.0 3.8 13.7% 7.9% 14.2% 35.3% 21.1% 2.4% 7.9% 16.6% 42.1% 7.9% n/a €68,500 €112,650 €809,0009 €32,29010 €24,280 €24,300 $76,905 $126,472 $908,2659 $36,25210 $27,259 $27,282
Japan 225 14.0 n/a n/a n/a 10.7 n/a 4.2 39.0% 4.3 6.4 63.0 n/a 66.0 61.0 n/a 4.0% -- 5.9% 11.0% n/a 0.4% 1.8% - - - - n/a €101,764 n/a n/a n/a n/a n/a $114,251 n/a n/a n/a n/a
Netherlands 50 7.26 36.0% 0.0% 76.0% 6.8 6.8 5.9 86.8% 5.6 0.2 61.7 67.1 60.9 58.8 4.5 47.0% 16.0% 52.0% 35.5% 4.0% 0.0% 74.0%7 16.9% 49.1% 54.4% 43.9% €57,920 €77,139 €143,601 €10,438 €8,156 €12,381 $65,027 $86,604 $161,221 $11,719 $9,157 $13,900
Norway 25 11.1 19.0% 0.0% 44.0% 8.2 6.2 4.4 54.1% 5.2 0.0 56.5 63.1 56.4 n/a 5.1 26.6% 12.0% 29.5% 44.2% 20.0% 16.0% 96.0% 12.3% 52.6% 31.6% 26.3% €33,326 €39,635 €81,800 €7,848 €5,054 n/a $37,415 $44,498 $91,837 $8,811 $5,674 n/a
Singapore 30 5.7 23.3% 16.7% 53.3% 10.4 - 5.9 56.7% 2.4 1.8 62.0 68.0 62.0 57.0 6.3 - - - 16.0% 6.7% 10.0% 13.3% 9.3% 20.7% - - €50,777 €85,870 €1,212,909 €24,014 €13,976 €12,739 $57,007 $96,406 $1,361,734 $26,961 $15,691 $14,302
South Africa 51 6.4 25.5% 0.0% 72.5% 12.6 12.6 7.311 61.0%11 9.1 2.0 58.4 62.9 59.4 53.2 6.7 22.7% 15.7% 30.2% 22.3% 7.8% 3.9% 23.5% 12.7% 30.8% 42.3% 0.0% €35,495 €265,290 €346,459 €8,999 €8,097 €8,583 $39,850 $297,842 $388,970 $10,103 $9,090 $9,636
Spain 100 11.0 31.0% 48.0% 68.0% 10.9 n/a 5.0 46.0% 9.2 1.8 60.6 64.2 n/a 57.4 3.7 19.6% 8.0% 20.3% 24.2% 7.0% 2.0% 33.0% 11.6% 42.0% 31.0% 39.0% €78,582 €127,843 €396,388 €26,397 €31,494 €31,037 $88,224 $143,529 $445,025 $29,636 $35,358 $34,845
Sweden 25 11.0 16.0% 0.0% 40.0% 9.8 8.4 5.0 51.2% 6.7 0.7 58.3 63.1 58.6 53.4 5.5 20.6% 12.0% 23.2% 38.3% 8.0% 20.0% 80.0% 17.2% 30.6% 8.3% 25.7% €66,180 €80,925 €246,548 €16,860 €10,423 n/a $74,300 $90,855 $276,800 $18,929 $11,702 n/a
Turkey 28 29.9 n/a 7.1% 89.3% 9.3 n/a 3.0 32.2% 7.5 1.0 58.2 58.9 58.6 54.2 6.4 11.9% 7.1% 13.4% 19.2% 14.3% 0.0% 17.9% 10.0% 11.1% 7.4% 22.0% €49,300 n/a n/a n/a n/a n/a $55,349 n/a n/a n/a n/a n/a
UK 150 7.7 46.0% 0.0% 100.0% 10.1 10.0 6.1 70.0% 6.5 2.2 59.3 65.4 60.3 54.1 4.3 30.0% 19.3% 37.9% 33.8% 5.3% 5.3% 70.6% 13.7% 50.0% 36.2% 31.9% €76,144 €108,467 €452,461 €17,372 €14,746 €14,990 $85,487 $121,776 $507,978 $19,504 $16,555 $16,829
USA 494 7.9 21.0% 45.0% 73.0% 10.7 n/a 9.1 85.0% 1.6 0.2 n/a n/a 63.0 n/a n/a n/a n/a n/a 28.0% n/a 6.0% 43.0% 8.0% 47.0% 17.0% 28.0% €115,283 €274,750 €154,632 €12,250 €10,313 €8,416 $129,428 $308,462 $173,606 $13,753 $11,578 $9,449
Footnotes