Do top Indian companies have small or large boards? Do they have enough independent directors? How many women are at the top? What’s the average pay of board directors? And which kind of companies pay the most?
ET looks at data compiled by Aon Consulting in its ‘OnBoard’ report that studied India’s top 158 companies.
Here are the key findings:
How Companies Pay Board Members - Rs 28.8 lakh is average payout to an independent director. Of this, 25% is paid as sitting fees and the remaining 75% is paid in form of profitrelated commission.
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- Commission to an independent director rises significantly with the size of the company implying that there is a significant premium attached to be an independent director in a large organisation.
- Banks pay the highest sitting fees, and IT/ITeS companies pay the highest commission.
Anubhav Gupta, Director at Aon, said, “corporate governance bodies have long highlighted the need for separating the governed (CEOs who run the companies) with those who govern (chairpersons of the board). The separation of CEO/MD and the chairperson roles may lead to a change in the board structure of companies led by executive promoter directors. Among the top 158 companies in India, about 1/3rd are led by an executive chairman today.”
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SOURCE: Data from 158 largest listed companies in India by market capitalisation, excluding public sector enterprises
Workplace Diversity: Need Equality In The Boardrooms
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