The 2016 Singapore Board Index looks at board composition, structure and governance practices among the 30 constituent companies in the Straits Times Index (STI), a benchmark index for the Singapore Exchange. This publication also compares STI 30 companies with their counterparts in the Asia Pacific region and around the world.
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Among the highlights from this Singapore Board Index:
- Board size: The average number of directors on Singapore is 10.1, down slightly from 10.8 in 2014.
- Chairman independence: More companies in the STI are appointing an independent chairman; 54% of this year’s chairmen are independent, versus 43% in 2014.
- Separate leadership roles: All but three companies in the STI 30 separate the chairman and CEO roles, very much in keeping with the global trend to separate those responsibilities.
- Gender diversity: 73% of STI boards now have at least one woman on their board compared to 57% in 2014, a progress in line with global trends.
In addition to the analysis of data on composition, remuneration and board committees, this edition contains a piece on board assessment and performance, where we identify six questions boards should ask to ensure that assessments help remove barriers to improved board effectiveness.