Spencer Stuart: 15th Annual Retail & Apparel Board Index
Spencer Stuart presents the 15th edition of the Retail & Apparel Spencer Stuart Board Index, which highlights the latest data and trends in board composition, board practices and director compensation for 111 of the top U.S. retail and apparel companies.
- More retail and apparel boards added new independent members.
- Nearly 59% of boards added new independent directors in 2019, while 53% of retail and apparel boards added new directors the previous year. The 112 new independent directors on boards represented 13% of 871 total directors on retail and apparel boards, compared with 11% of the 866 independent directors in 2018.
- An increasing number of large retailers are splitting the chair/CEO roles.
- 79% of retail and apparel companies with revenues of more than $20 billion split the role, compared with 50% in 2018 and 43% in 2017. Overall, 68% of retail and apparel companies split the roles in 2019, compared with 62% in 2018.