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S&P 500 Industry Sector Comparison Chart

2025 U.S. Spencer Stuart Board Index

The U.S. Spencer Stuart Board Index examines the latest data and trends in board composition, board governance practices and director compensation among S&P 500 companies.

We have compiled key data from each S&P 500 sector into our Board Index Sector Comparison Chart below, where you can compare aggregated data by sector across a wide range of measures, including board composition, independent director representation, board leadership, organization and committees.

Board composition

Underrepresented minorities Audit committee Compensation committeeNominating committee CEO/chair/president/COO Underrepresented minorities
Sector Companies Average board size Ind. directors Average age Average tenure Women directors Black/AA Asian Hispanic/Latinx Total URM* Total diverse directors** Average # of committees Average size Average meetings Average size Average meetings Average size Average meetings Separate chair/CEO Executive chair Independent chair Female ind. chair URM ind. chair* Lead/presiding director New Directors Added >1 director Average age First time Active Retired Women Black/AA Asian Hispanic/Latinx Total URM* Total diverse directors** Average board meetings Average committees Mandatory retirement Average retirement age Term limits Average term limit (years)
Communication Services 17 10.9 82% 61.5 8.1 30% 15% 7% 6% 30% 49% 3.7 3.6 8.5 4 5.7 3.6 4.6 47% 6% 35% 0% 0% 65% 16 23.5% 51.3 31% 19% 19% 25% 0% 0% 0% 0% 25% 7.9 3.7 41% 73.3 6% 15
Consumer 86 10.8 84% 62.3 7.9 36% 11% 6% 7% 26% 51% 3.9 4.4 7.7 4 5.4 4.1 4.5 67% 21% 34% 24% 10% 64% 66 14% 58.5 27% 18% 24% 39% 3% 6% 6% 17% 47% 6.6 3.9 62% 73.7 10% 14.7
Energy 23 10.8 86% 65.2 6.7 31% 10% 4% 4% 18% 43% 4.3 4.9 6.8 4.6 5.4 4.7 4.6 61% 13% 43% 10% 10% 57% 21 26.1% 62.5 19% 10% 24% 33% 10% 5% 10% 24% 43% 8.2 4.3 70% 74.9 13% 12.3
Financials 68 11.7 87% 64.3 8.1 35% 13% 5% 5% 24% 51% 4.8 4.9 9.7 4.6 6.5 4.7 4.9 50% 15% 35% 17% 17% 69% 54 20.6% 59.4 37% 7% 15% 39% 7% 7% 4% 19% 46% 8.5 4.8 75% 74.3 9% 14
Health Care 60 10.5 88% 64.2 7.8 35% 11% 9% 4% 25% 50% 4.3 4.3 8.4 4.1 5.5 4.2 4.6 57% 13% 40% 17% 13% 62% 43 15% 59.8 26% 14% 28% 21% 5% 9% 5% 21% 37% 7.5 4.3 65% 74.3 10% 14.8
Industrials 103 10.7 87% 63.3 7.3 34% 12% 4% 5% 21% 48% 4.1 4.8 7.6 4.5 5.5 4.7 4.8 62% 11% 44% 18% 9% 56% 96 16.5% 60 27% 21% 20% 39% 7% 2% 6% 16% 46% 6.6 4.1 81% 74.2 9% 14.7
Information Technology 69 9.8 85% 63.4 8.4 34% 8% 15% 4% 27% 52% 3.6 4 8.5 3.8 6 3.8 4.6 68% 13% 49% 21% 6% 59% 33 11.6% 58.5 42% 3% 27% 48% 3% 15% 6% 24% 58% 7 3.6 43% 74.3 6% 16.8
Real Estate 25 9.9 85% 64.2 8.5 36% 11% 5% 5% 21% 48% 3.7 4.3 7.8 4 5 4.1 4.5 77% 16% 48% 33% 7% 61% 17 6.5% 58.9 47% 0% 12% 71% 0% 18% 0% 18% 76% 5.7 3.7 52% 74.9 16% 13.8
Utilities 31 11.2 90% 64.2 6.8 35% 16% 3% 7% 26% 51% 5 4.8 6.6 4.4 5.4 4.5 4.9 55% 0% 48% 13% 13% 61% 28 25.8% 58.8 36% 11% 14% 32% 7% 0% 7% 14% 39% 7.1 5 87% 74.3 13% 14.5
Total S&P 500 10.7 86% 63.6 7.8 35% 12% 7% 5% 24% 50% 4.1 4.5 8.1 4.2 5.6 4.3 4.7 61% 13% 41% 19% 10% 61% 374 16.4% 59.1 31% 14% 21% 38% 5% 6% 5% 17% 46% 7.1 4.1 66% 74.2 10% 14.5

* Our analysis uses definitions in Nasdaq's former Board Diversity Rule , with URM "underrepresented minority" defined to mean an individual who self identifies as one or more of the following: Black/African American, Asian, Hispanic/Latinx, Native American or Alaska Native, Native Hawaiian or Pacific Islander or two or more races or ethnicities.

** Our analysis of diverse groups uses definitions in Nasdaq's former Board Diversity Rule, with a “diverse director” defined to include: Female, without regard to the individual’s designated sex at birth (“female”), one or more of: Black or African American, Hispanic or Latinx, Asian, Native American or Alaska Native, Native Hawaiian or Pacific Islander, or two or more races or ethnicities (“underrepresented minority”) and Lesbian, gay, bisexual, transgender or a member of the queer community (“LGBTQ+”)

explore each s&p 500 sector in more detail

Download a breakdown of findings for each S&P 500 industry sector

Communication ServicesConsumerEnergyFinancialsHealthcareIndustrialsInformation TechnologyReal EstateUtilities

2025 U.S. Spencer Stuart Board Index

Now in its 40th year, the U.S. Spencer Stuart Board Index examines the latest data and trends in board composition, board governance practices and director compensation among S&P 500 companies.

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