S&P 500 Industry Sector Comparison Chart: 2024 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									CEO/chair/president/COO			Underrepresented minorities																		Audit committee		Compensation committee		Nominating committee

Sector	Companies	Average board size	Ind. directors	Average age	Average tenure	Women directors	Black/AA	Asian	Hispanic/Latinx	Total URM*	Total diverse directors**	New directors	Added >1 director	Average age	First time	Active	Retired	Women	Black/AA	Asian	Hispanic/Latinx	Total URM*	Total diverse directors**	Separate chair/CEO	Executive chair	Independent chair	Female ind. chair	URM ind. chair*	Lead/presiding director	Average board meetings	Average committees	Mandatory retirement	Average retirement age	Term limits	Average term limit (years)	Average # of committees	Average size	Average meetings	Average size	Average meetings	Average size	Average meetings
Communication Services	19	10.3	82%	62.5	8.8	33%	15%	9%	7%	33%	54%	14	21%	59.9	29%	21%	14%	50%	14%	7%	14%	36%	64%	68%	16%	37%	0%	11%	58%	9.5	3.6	42%	73.4	1%	15	3.6	3.8	8.4	3.8	6.9	3.7	4.9
Consumer	88	10.9	83%	62.1	7.9	37%	13%	6%	7%	27%	51%	72	19%	54.8	39%	19%	13%	40%	11%	15%	8%	35%	61%	67%	22%	34%	9%	2%	67%	7	4	61%	73.7	7%	15.8	4	4.4	7.6	4.	5.4	4.1	4.6
Energy	22	11	86%	65.1	6.8	32%	10%	3%	4%	19%	44%	13	18%	60.1	31%	8%	31%	54%	8%	0%	0%	8%	54%	55%	9%	45%	14%	5%	64%	9.1	4.3	73%	74.4	9%	12.5	4.3	4.7	6.8	4.7	4.8	4.8	4.3
Financials	69	11.7	87%	64	8.1	34%	13%	5%	5%	23%	50%	53	16%	59.8	45%	9%	17%	42%	6%	9%	11%	26%	64%	46%	9%	30%	6%	1%	75%	9.5	4.8	75%	73.9	9%	14	4.8	4.9	10.1	4.8	6.5	4.7	4.9
Health Care	63	10.4	87%	63.8	7.7	36%	11%	8%	4%	24%	50%	55	24%	57.8	36%	18%	9%	51%	13%	9%	2%	25%	64%	52%	6%	41%	6%	3%	65%	7.9	4.3	65%	74.1	8%	14.8	4.3	4.2	8.3	4.	5.7	4.3	4.6
Industrials	105	10.8	87%	63.3	7.4	33%	12%	4%	4%	21%	47%	92	22%	58.7	34%	21%	20%	47%	9%	10%	4%	24%	60%	61%	20%	38%	6%	2%	65%	6.9	4.1	81%	74	10%	14.7	4.1	4.8	7.4	4.5	5.4	4.7	4.4
Information Technology	64	10.2	86%	63.5	8.3	33%	8%	14%	4%	26%	50%	49	14%	57.6	29%	27%	10%	29%	8%	14%	2%	24%	51%	69%	11%	50%	8%	2%	58%	7	3.6	48%	74.5	6%	16.3	3.6	4.2	8.8	3.9	5.9	4.	4.6
Real Estate	30	10.1	85%	64.2	8.5	34%	11%	4%	5%	20%	46%	24	17%	60.6	13%	0%	13%	42%	13%	0%	4%	17%	58%	73%	17%	43%	13%	3%	67%	7	3.7	47%	75.1	17%	13.8	3.7	4.1	6.9	4	5.	4.2	3.9
Utilities	30	11.2	90%	64.2	7	37%	16%	4%	7%	27%	36%	34	27%	59.6	32%	3%	35%	32%	12%	12%	6%	29%	57%	53%	7%	37%	3%	7%	67%	8.6	5.1	90%	74	13%	14.5	5.1	4.9	7	4.6	5.6	4.6	5.1
Grand Total	490	10.8	85%	63.4	7.8	34%	12%	6%	4%	25%	50%	406	20%	58.2	34%	17%	16%	42%	10%	10%	6%	28%	59%	60%	14%	39%	18%	7%	66%	7.7	4.2	69%	74.1	9%	14.7	4.2	4.5	8.1	4.3	5.7	4.4	4.6

* Our reporting is in line with the Nasdaq 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 reporting on diverse groups is in line with the Nasdaq 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”)
Lesbian, gay, bisexual, transgender or a member of the queer community (“LGBTQ+”)