Boards of directors for technology industry companies are continuing to become more diverse, not just adding more new directors from underrepresented racial and ethnic groups as well as more women, but also taking other steps to make boards younger and less tenured than ever before. Meanwhile, a record number of new directors were filled by active directors in 2022, while executives with technology industry backgrounds filled more new director seats than the year before — signs that boards are seeking leaders who are up-to-speed on the latest trends in a rapidly changing industry.
These findings 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.
2022 Snapshot
7
years
Average tech board director tenure
47
%
Percent of new directors who are women
32
%
Percent of boards with mandatory retirement age
49
%
Percent of new directors with technology industry background
67
%
Average compensation in stock awards
178
New independent directors in 2021
64
%
Percent of boards that separate CEO and chair roles
8.3
Average number of board meetings