In the wake of the nationwide discussion about the racial equity gap in business, technology industry companies in 2021 made a determined effort to add new Black directors to their boards, albeit at a slower pace than the S&P 500. Meanwhile, gender diversity also continued to rise, with nearly half (48%) of all new directors. And, of course, boards worked hard to help their companies navigate the COVID-19 pandemic and the associated disruptions.
These trends are just a few of the many that the latest U.S. Technology Spencer Stuart Board Index examines for the 200 top technology companies in the United States.
2021 Snapshot
7
years
Average tech board director tenure
49
%
Percent of new directors who are women
32
%
Percent of boards with mandatory retirement age
38
%
Percent of new directors with technology industry background
68
%
Average compensation in stock awards
178
New independent directors in 2021
67
%
Percent of boards that separate CEO and chair roles
9.1
Average number of board meetings