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01 Market comparison
02 Market Snapshot
03 Methodology
2024
Board Monitor
Explore the report data by market
Market comparison
Americas
Europe & Africa
Asia Pacific & Middle East
Share seats filled with directors who have an active executive role at time of appointment vs. those that were retired (%)
94
6
85
15
75
22
3
69
31
68
32
66
34
66
34
65
35
64
36
64
27
9
63
37
61
39
60
40
59
41
59
41
58
42
55
45
54
29
17
50
50
48
52
46
54
46
54
39
61
38
62
52
10
38
67
33
67
33
Colombia
Sweden
UAE
Portugal
Finland
Germany
Singapore
France
Italy
Mexico
Switzerland
Belgium
Brazil
United States
Denmark
Hong Kong
Poland
Saudi Arabia
Spain
Ireland
United Kingdom
Norway
Netherlands
Canada
India
Australia/New Zealand
South Africa
Active
Retired
No information available
Share seats filled with directors who have public board experience at time of appointment vs. those that did not (%)
63
38
63
28
9
56
44
51
49
51
49
45
55
45
55
43
49
8
39
61
39
61
39
53
9
35
65
33
58
8
33
67
33
67
32
68
30
70
29
71
28
72
27
73
25
75
24
76
24
76
23
77
21
79
21
79
17
83
Portugal
UAE
Colombia
Brazil
Italy
Poland
Hong Kong
India
Belgium
Ireland
Mexico
Denmark
Saudi Arabia
United States
Switzerland
Germany
Sweden
Netherlands
Singapore
Australia/New Zealand
Norway
United Kingdom
South Africa
France
Finland
Canada
Spain
First time public board directors
Previous public board experience
N/A
Share seats filled with directors who have sustainability committee experience at time of appointment (%)
69
41
41
39
39
39
37
35
30
27
25
23
22
22
22
20
19
18
17
13
9
9
9
9
3
0
N/A
South Africa
Australia/New Zealand
Singapore
Netherlands
Italy
United Kingdom
Spain
France
Canada
Brazil
Portugal
United States
Hong Kong
Colombia
Ireland
Sweden
Switzerland
Denmark
Norway
Germany
Belgium
Poland
Finland
UAE
Mexico
Saudi Arabia
India
Share seats filled with directors who have sustainability executive experience at time of appointment (%)
19
18
16
14
13
12
11
10
9
8
7
6
4
0
0
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Portugal
Belgium
France
Italy
Spain
Denmark
Netherlands
United Kingdom
Ireland
Norway
Germany
Switzerland
Finland
Poland
Sweden
South Africa
United States
Canada
Mexico
Colombia
Brazil
UAE
Saudi Arabia
Singapore
Hong Kong
Australia/New Zealand
India
Share seats filled with directors who have cybersecurity experience at time of appointment (%)
9
8
5
5
5
5
3
2
0
0
0
0
0
0
0
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Poland
Norway
Italy
Sweden
United Kingdom
France
Germany
Finland
Belgium
Denmark
Ireland
Netherlands
Portugal
Spain
Switzerland
South Africa
United States
Canada
Brazil
Colombia
Mexico
UAE
Saudi Arabia
Singapore
Hong Kong
Australia/New Zealand
India
Share seats filled with directors who have international experience at time of appointment (%)
94
92
75
73
71
70
65
64
63
60
60
56
55
51
47
45
44
39
39
35
35
30
19
17
8
6
N/A
Denmark
Norway
Sweden
Australia/New Zealand
Netherlands
Spain
Switzerland
Belgium
Portugal
Singapore
United States
France
Canada
United Kingdom
Finland
Poland
Germany
Italy
Mexico
South Africa
Ireland
Brazil
UAE
Colombia
Saudi Arabia
Hong Kong
India
Share of seats filled with directors of a nationality different than that of the market in which the company is listed (%)
84
65
61
60
53
52
50
50
49
47
45
44
43
38
38
36
35
32
27
26
25
18
17
8
8
2
N/A
Hong Kong
Denmark
Netherlands
Switzerland
Singapore
Belgium
Norway
Sweden
South Africa
France
Poland
UAE
Ireland
Canada
Portugal
Finland
Spain
Australia/New Zealand
Mexico
United Kingdom
Germany
Italy
Colombia
Saudi Arabia
Brazil
India
United States
Average age of newly appointed directors
Minimum
Maximum
28
37
41
33
42
36
35
38
35
40
38
43
41
32
36
44
40
45
41
38
35
28
29
50
50
53
54
55
56
56
57
57
57
57
57
57
57
57
58
59
59
59
59
59
59
59
60
61
N/A
N/A
N/A
68
62
67
84
66
70
68
74
71
70
77
70
67
84
75
72
69
68
73
75
74
76
81
79
Poland
Sweden
Portugal
Brazil
Denmark
Belgium
Finland
Spain
Germany
Singapore
Italy
South Africa
Switzerland
Mexico
United Kingdom
Ireland
Norway
France
Australia/New Zealand
Hong Kong
Canada
United States
India
Netherlands
Saudi Arabia
UAE
Colombia
Share of seats filled with directors with each degree type, or the closest equivalent (%)
95
2
4
88
9
3
83
10
8
83
6
12
82
16
3
81
16
3
77
21
2
70
30
69
25
6
68
22
6
3
67
33
66
33
65
25
10
65
32
2
63
34
3
61
39
59
29
13
58
41
21
57
23
57
33
9
54
45
52
40
3
5
6
50
44
4
4
48
43
13
6
48
33
6
43
52
2
43
55
Finland
Belgium
Switzerland
Denmark
India
Singapore
France
Brazil
Portugal
Hong Kong
Norway
Italy
Sweden
United States
Netherlands
Colombia
Saudi Arabia
Spain
Germany
Mexico
Poland
Australia/New Zealand
UAE
Ireland
United Kingdom
Canada
South Africa
Advanced degree
Bachelors degree
None
N/A
Share of seats filled with directors with an MBA (%)
54
43
41
39
38
36
33
33
33
31
31
28
27
27
24
22
22
22
21
21
19
18
18
17
17
15
6
Switzerland
United States
Denmark
Mexico
UAE
Belgium
Saudi Arabia
Brazil
Spain
Portugal
Singapore
India
Australia/New Zealand
Canada
Netherlands
United Kingdom
South Africa
Ireland
Finland
Italy
France
Poland
Hong Kong
Germany
Norway
Sweden
Colombia
Share of seats filled with women (%)
61
56
56
55
53
52
51
51
50
50
49
48
47
43
42
42
42
39
38
38
36
36
33
31
30
28
8
Ireland
Portugal
United Kingdom
Sweden
South Africa
Spain
France
Italy
Australia/New Zealand
Colombia
Hong Kong
Switzerland
Denmark
United States
Germany
Netherlands
Norway
Belgium
Finland
Singapore
Poland
Canada
Mexico
UAE
Brazil
India
Saudi Arabia
Share of seats filled with directors who have CEO experience at any point in their career prior to being appointed (%)
59
58
57
53
53
50
50
50
46
44
42
42
42
41
40
39
39
37
35
35
31
30
26
23
13
9
6
Denmark
France
Finland
UAE
Canada
Netherlands
Norway
Sweden
Spain
Australia/New Zealand
Belgium
Saudi Arabia
United States
Singapore
India
Germany
Colombia
Switzerland
United Kingdom
South Africa
Brazil
Mexico
Ireland
Italy
Hong Kong
Poland
Portugal
Share of seats filled with directors who have COO experience at any point in their career prior to being appointed (%)
20
18
16
14
14
13
13
12
9
9
8
8
7
6
6
6
6
4
4
3
2
2
1
0
0
0
0
Canada
South Africa
United States
Australia/New Zealand
France
Singapore
Finland
United Kingdom
Belgium
Poland
Saudi Arabia
Netherlands
Brazil
Portugal
Germany
Mexico
UAE
Ireland
Norway
Hong Kong
Switzerland
India
Italy
Colombia
Denmark
Spain
Sweden
Share of seats filled with directors who have CFO experience at any point in their career prior to being appointed (%)
24
24
23
23
21
21
20
19
19
18
17
17
15
13
13
13
12
12
12
11
9
8
7
6
6
4
0
South Africa
Germany
Finland
United States
Belgium
Norway
United Kingdom
Singapore
France
Poland
Ireland
Canada
Sweden
Switzerland
Netherlands
Spain
Denmark
Hong Kong
Mexico
Australia/New Zealand
Brazil
Saudi Arabia
Italy
UAE
Colombia
India
Portugal
Share of seats filled with directors who have other C-suite experience (not including CEO, CFO, or COO) at any point in their career prior to being appointed (%)
67
33
33
32
30
29
24
23
21
21
21
21
20
19
19
19
18
18
17
14
13
13
13
12
9
9
8
Colombia
South Africa
Switzerland
Canada
United States
Saudi Arabia
Belgium
United Kingdom
Finland
Netherlands
France
Norway
Sweden
Australia/New Zealand
Singapore
Portugal
Germany
Poland
Ireland
India
Italy
Spain
UAE
Denmark
Hong Kong
Mexico
Brazil
The share of companies per index with a new director appointed between January 1, 2023, and December 31, 2023 (%)
81
74
68
68
66
65
63
60
59
58
58
56
56
53
52
50
49
48
46
44
43
43
38
35
33
32
N/A
Finland
Belgium
Canada
Netherlands
Spain
South Africa
France
Singapore
United Kingdom
Brazil
Ireland
Switzerland
Norway
Mexico
United States
Australia/New Zealand
Germany
Sweden
Denmark
Hong Kong
Saudi Arabia
Italy
Portugal
Poland
UAE
Colombia
India
The total number of new board seats filled between January 1, 2023, and December 31, 2023
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Europe & Africa
Belgium
Denmark
Finland
France
Germany
Ireland
Italy
Netherlands
Norway
Poland
Portugal
South Africa
Spain
Sweden
Kenya
Switzerland
United Kingdom
Asia Pacific & Middle East
Australia/New Zealand
Hong Kong
Japan
India
South Korea
Saudi Arabia
Singapore
United Arab Emirates
Canada
Sweden
Finland
Norway
Denmark
Ireland
United Kingdom
Poland
Netherlands
Germany
Belgium
France
Switzerland
South Korea
Japan
Portugal
Spain
Italy
United States
India
Mexico
Saudi Arabia
UAE
Hong Kong
Singapore
Colombia
Colombia
Kenya
Brazil
Australia/New Zealand
South Africa
New Zealand
About the research
This analysis is part of Heidrick & Struggles’ long-standing study of trends in board composition in countries around the world. Produced by our global CEO & Board Practice, these reports track and analyze trends in non-executive director appointments to the boards of the largest publicly listed companies in Australia (ASX 200), Belgium (BEL 20), Brazil (BOVESPA), Canada (TSX 60), Colombia (COLCAP), Denmark (OMX Copenhagen 25), Finland (OMX Helsinki 25), France (CAC 40), Germany (DAX and MDAX), Hong Kong (Hang Seng), Ireland (ISEQ), Italy (FTSE MIB), India (Nifty Top 200), Mexico (BMV IPC), the Netherlands (AEX), New Zealand (NZX 10), Norway (OBX), Poland (WIG20), Portugal (PSI 20), Saudi Arabia (Tadawul), Singapore (STI 30), South Africa (JSE Top 40), Spain (IBEX 35), Sweden (OMX Stockholm 30), Switzerland (SMI Expanded), the United Arab Emirates (ADX and DFM), the United Kingdom (FTSE 350), and the United States (Fortune 500). Information about executives is gathered from publicly available sources, BoardEx, and a Heidrick & Struggles proprietary database.
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