The 2021 Turkey Spencer Stuart Board Index is a survey of the 30 largest companies by market capitalisation listed on the BIST exchangeas at 30 April 2021. The chart below provides a unique perspective on the extent to which a range of key metrics has changed between 2016-2021.
Board Composition
|
2021 |
2016 |
5-year change |
| Average board size |
9.6 |
10 |
-4% |
| % Independent directors |
34.8% |
31.7% |
9.78% |
| % Combined CEO/chair |
14.3% |
6.7% |
113.43% |
| % CEOs on board |
68% |
n/a |
- |
Age
|
2021 |
2016 |
5-year change |
| Average age non-executives |
59.2 |
59.3 |
-0.2% |
| Average age executives |
54 |
52.1 |
3.6% |
| Average age all directors |
58.6 |
58.5 |
0.2% |
Foreign directors
|
2021 |
2016 |
5-year change |
| % foreign directors |
8.1% |
17% |
-52.4% |
| Boards with at least one foreign director |
25% |
36.6% |
-31.7% |
Women directors
|
2021 |
2016 |
5-year change |
| % women directors: all |
18.5% |
11.7% |
58.1% |
| % women directors: non-executives |
21.5% |
9.2% |
133.7% |
| % women directors: executives |
9.4% |
11.8% |
-20.3% |
| Female chair |
10.7% |
10% |
7% |
| Female CEO |
3.6% |
0% |
- |
| Companies with at least one female director |
85.7% |
60% |
42.8% |
Committees, Tenure & Remuneration
|
2021 |
2016 |
5-year change |
| % boards with more than 3 committees |
53.6% |
36.6% |
46.4% |
|
Average # of years’ tenure: non-executives
|
6.1 |
3.7 |
64.9% |
| Average non-executive retainer (gross) |
TRY
421,197 |
- |
- |
Outside commitments
|
2021 |
2016 |
5-year change |
| Chairs with outside quoted board |
21.4% |
n/a |
- |
| CEOs with outside quoted board |
10.7% |
n/a |
- |
| Executive directors with outside quoted board |
17.9% |
36% |
-50.4% |
| Non-executive directors with outside quoted board |
25.6% |
n/a |
- |
Meetings
|
2021 |
2016 |
5-year change |
| Average corporate governance rating |
9.5 |
n/a |
- |
| Average number of board meetings |
27 |
18 |
50.2% |