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2018 Nordic Spencer Stuart Board Index

2018 Nordic Spencer Stuart Board Index

The 2018 Nordic Spencer Stuart Board Index analyzes board composition, committees, director remuneration and other aspects of board governance in Denmark, Finland, Norway and Sweden. Our research covers the following indices: OMX Copenhagen (25 companies), OMX Helsinki (25 companies), OBX (25 companies), and OMX Stockholm (25 companies). Our purpose is to provide business leaders with a snapshot of current practice on boards across the region.

The 2018 Nordic Spencer Stuart Board Index analyzes board composition, committees, director remuneration and other aspects of board governance in Denmark, Finland, Norway and Sweden. Our research covers the following indices: OMX Copenhagen (25 companies), OMX Helsinki (25 companies), OBX (25 companies), and OMX Stockholm (25 companies). Our purpose is to provide business leaders with a snapshot of current practice on boards across the region.

In our analysis we examine year-on-year changes, as well as trends between 2014-2018, on a wide range of measures, from board size and diversity to director commitments and remuneration. We also compare leading Nordic companies with their counterparts in other countries, both in Europe and the US.

Key findings include:

  • The proportion of women sitting on Nordic boards has declined to 36.2% from 38.8% in 2016. Denmark has the fewest women on boards (28%) and Norway the highest (46%).
  • 35% of all new directors appointed to Nordic boards were women, down from 41% last year.
  • Women account for 20.8% of all executive committee (ExCo) positions in the Nordic companies surveyed.
  • Foreign directors now account for 36% of all directorships on the boards of leading Nordic companies. 70% of all new foreign directors come from outside the Nordic countries.
  • Only 16% of Nordic companies chose to undergo an externally facilitated board assessment.
  • The average total chairman remuneration across the Nordics was €168,229, a 9% increase on the previous year.

In our analysis we examine year-on-year changes, as well as trends between 2014-2018, on a wide range of measures, from board size and diversity to director commitments and remuneration. We also compare leading Nordic companies with their counterparts in other countries, both in Europe and the US.

Key findings include:

  • The proportion of women sitting on Nordic boards has declined to 36.2% from 38.8% in 2016. Denmark has the fewest women on boards (28%) and Norway the highest (46%).
  • 35% of all new directors appointed to Nordic boards were women, down from 41% last year.
  • Women account for 20.8% of all executive committee (ExCo) positions in the Nordic companies surveyed.
  • Foreign directors now account for 36% of all directorships on the boards of leading Nordic companies. 70% of all new foreign directors come from outside the Nordic countries.
  • Only 16% of Nordic companies chose to undergo an externally facilitated board assessment.
  • The average total chairman remuneration across the Nordics was €168,229, a 9% increase on the previous year.