S&P 500 Industry Sector Comparison Chart: 2022 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

								Ethnic/racial background							Ethnic/racial background						CEO/chair/president/COO														Audit committee		Compensation committee		Nominating committee

Sector △	Companies	Average board size	Ind. directors	Average age	Average tenure	Women directors	Has 3+ women directors	Black/AA	Asian	Hispanic/Latino	Has 3+ UE/RG* directors	HUGs^**	Added 1+ director	Women	Black/AA	Asian	Hispanic/Latino	HUGs^*	Average age	First-time directors	Active	Retired	Separate chair/CEO	Independent chair	Female independent chair	UE/RG chair^*	Lead/presiding director	Female lead/presiding director	UE/RG* presiding director	Staggered board	Average board meetings	Average committees	Mandatory retirement	Average retirement age	Average size	Average meetings	Average size	Average meetings	Average size	Average meetings
Communication Services	22	10.2	79%	61	8	33%	68%	14%	8%	7%	77%	50%	27%	53%	20%	27%	13%	80%	53.2	47%	27%	0%	64%	32%	14%	29%	59%	15%	13.6%	9	3.7	36%	73	3.5	8.1	3.9	6.6	3.6	4.7	23%
Consumer	88	10.8	83%	62	8	34%	83%	12%	4%	6%	39%	47%	25%	48%	32%	7%	10%	78%	55.2	40%	29%	10%	66%	33%	21%	7%	68%	10%	10.2%	7.4	4	68%	73.3	4.3	7.7	4.1	5.9	4.4	4.5	8%
Energy	21	10.9	86%	64.6	6.3	28%	67%	10%	3%	3%	24%	37%	35%	38%	27%	4%	12%	58%	59.2	31%	12%	19%	57%	33%	0%	0%	71%	27%	9.5%	9.5	4.2	76%	73.9	4.6	7.2	4.8	5	4.7	4.7	7%
Financials	64	12.2	87%	63.9	8.3	33%	91%	13%	4%	5%	56%	48%	20%	52%	20%	8%	5%	68%	58.3	17%	19%	15%	42%	25%	25%	6%	81%	23%	4.7%	10.3	4.8	75%	73.8	5.1	10.4	4.9	6.5	4.9	5.2	12%
Healthcare	65	10.4	86%	63.7	7.9	32%	80%	10%	7%	3%	43%	45%	20%	36%	23%	18%	9%	66%	57.6	27%	7%	20%	52%	37%	13%	17%	68%	16%	18.5%	8.2	4.4	71%	74.1	4.2	8.4	4	6	4.3	4.8	7%
Industrials	98	10.8	87%	63	7.3	30%	80%	12%	3%	4%	38%	44%	22%	46%	26%	7%	6%	67%	58	38%	14%	15%	53%	37%	14%	3%	65%	5%	13.3%	7.6	4.1	86%	73.9	4.6	7.7	4.7	5.7	4.8	4.6	6%
Information Technology	74	10.1	86%	62.6	7.8	31%	76%	8%	12%	3%	43%	47%	27%	43%	22%	16%	9%	75%	57.1	37%	15%	4%	65%	47%	11%	6%	59%	7%	14.9%	7.7	3.7	54%	73.9	4.1	8.4	3.9	6.5	4.1	5.2	14%
Real Estate	29	10.3	86%	63.9	9	32%	86%	11%	5%	5%	34%	45%	13%	56%	50%	6%	13%	100%	55.9	31%	13%	0%	72%	45%	8%	8%	69%	15%	3.4%	7.2	3.8	48%	74.4	4.2	7.2	4	5.2	4.2	3.8	5%
Utilities	28	11.3	88%	63.9	7.4	32%	93%	16%	2%	7%	61%	47%	27%	50%	23%	0%	8%	62%	58.7	42%	8%	15%	54%	32%	0%	22%	79%	36%	3.6%	10.1	5.1	89%	73.5	4.9	6.9	4.7	5.9	4.6	4.8	18%
Total S&P 500	489	10.8	86%	63.1	7.8	32%	81%	11%	6%	5%	44%	46%	24%	46%	26%	10%	8%	72%	57.3	34%	14%	12%	57%	36%	14%	9%	68%	14%	11.2%	8.3	4.2	70%	73.8	4.4	8.2	4.3	6	4.5	4.7	10%

* “Historically underrepresented groups” (HUGs) is defined to mean an individual who self identifies in one or more of the following categories: i) Female ii) Underrepresented racial/ethnic group iii) LGBTQ+ when disclosed.

* “Underrepresented racial/ethnic group” is defined to mean an individual who self identifies as one or more of the following: Black/African American, Asian, Hispanic/Latino/a, American Indian/Alaska Native, Native Hawaiian/Pacific Islander or two or more races (multiracial).

** “Historically underrepresented groups” (HUGs) is defined to mean an individual who self identifies in one or more of the following categories: i) Female ii) Underrepresented racial/ethnic group iii) LGBTQ+ when disclosed.

explore each s&p 500 sector in more detail

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

Communication Services Consumer Energy Financials Healthcare Industrials Information Technology Real Estate Utilities