As private companies increasingly professionalize their boards and use independent voices to bring new ideas to the board, the report presents key findings to help boards assess their priorities. and adapt to meet the needs of the organization, stakeholders and the community.
Below are the highlights of the main findings of the report:
- Committees of the Board of Directors: Private company boards are increasingly adopting committee structures typical of public company boards. This includes the audit committee (79% to 88% adoption), the remuneration committee (77% to 83%) and the nomination / governance committee (56% to 62%).
- Composition of the board of directors of the private company: Thirty-seven percent of respondents said they had recently appointed a candidate to the board of directors of an under-represented group, up from 31 percent in 2020.
- Remuneration of independent directors: Over the past year, the average remuneration of an independent director has increased slightly (by 1.3%) to reach $ 56,928.
- Family advice: In addition to the statutory board of directors, almost half (49%) of family business boards indicated that their organization has a family council in place to manage conflicts / concerns between members of the family. family.
To download your copy of the report’s key finding, visit https://www.nacdonline.org/insights/publications.cfm?ItemNumber=72631.
About NACD 2021 In the boardroom of the private company report:
The data presented in the 2021 In the boardroom of the private company was collected in a survey of NACD members serving on the boards of directors of private for-profit companies. He was in the field from late May to early June 2021, and the data collected was analyzed to create a snapshot of the structure, makeup and compensation practices of these boards.
For over 40 years, NACD has been at the forefront of corporate governance, setting standards of excellence that have elevated board performance. NACD provides today’s administrators with the knowledge and training that advance their mission, while preparing a new generation of boardroom leaders to meet the greatest challenges of tomorrow. NACD is a community of over 22,000 directors driven by a common goal: to be trusted catalysts for economic opportunity and positive change, in the businesses and communities they serve. To learn more about NACD, visit www.nacdonline.org.
SOURCE National Association of Corporate Directors