The 2022 Turkey Spencer Stuart Board Index is a survey of the 30 largest companies by market capitalisation listed on the BIST exchangeas at 30 April 2022. The chart below provides a unique perspective on the extent to which a range of key metrics has changed between 2017–2022.
Board Composition
|
2022 |
2017 |
5-year change |
| Average board size |
9.5 |
9.9 |
-4% |
| % Independent directors |
32.8% |
31.4% |
4.5% |
| % Combined CEO/chair |
10.7% |
14% |
-23% |
| % CEOs on board |
61% |
n/a |
- |
Age
|
2022 |
2017 |
5-year change |
| Average age non-executives |
59.3 |
59.9 |
-1% |
| Average age executives |
54.8 |
55.8 |
-4.8% |
| Average age all directors |
58.9 |
59.3 |
-0.7% |
Foreign directors
|
2022 |
2017 |
5-year change |
| % foreign directors |
14% |
17% |
-17.6% |
| Boards with at least one foreign director |
39% |
34.5% |
13% |
Women directors
|
2021 |
2016 |
5-year change |
| % women directors: all |
17.4% |
11.1% |
56% |
| % women directors: non-executives |
20.3% |
12.2% |
66% |
| % women directors: executives |
6.5% |
6.3% |
3% |
| Female chair |
7.1% |
6.9% |
3% |
| Female CEO |
3.6% |
0% |
– |
| Companies with at least one female director |
85.7% |
62% |
38% |
Committees, Tenure & Remuneration
|
2022 |
2017 |
5-year change |
| % of boards with more than 3 committees |
57.1% |
51.7% |
10.5% |
| Average # of years’ tenure: non-executives |
6.7 |
5.2 |
28.8% |
| Average non-executive retainer (gross) |
TRY 607,624 |
TRY 194,192 |
213% |
Outside commitments
|
2022 |
2017 |
5-year change |
| Chairs with outside quoted board |
35.7% |
44.8% |
-20% |
| CEOs with outside quoted board |
10.7% |
10.3% |
3.9% |
| Executive directors with outside quoted board |
19.35% |
n/a |
- |
| Non-executive directors with outside quoted board |
29.6% |
n/a |
- |
Governance
|
2022 |
2017 |
5-year change |
| Average corporate governance rating |
9.5 |
n/a |
- |
| Average number of board meetings |
19 |
18 |
5.5% |