Retail Sector Has Best Boardroom Diversity: Report

Board composition is coming under increasing scrutiny from investors and some industries are lagging behind others, according to a new report. The retail industry is leading the way when it comes to diversity and refreshment rate at the boardroom level, finds the PwC’s new report “A Look At Board Composition”, published today. The report analyses the boardroom structures of S&P 500 companies. The report found the retail sector had the youngest directors on average (age 60, compared to the S&P 500’s average of 63) and had more female directors on average (23 percent of all directors, compared to 21 percent of the S&P 500). Also, 91 percent of retail firms had mandatory retirement ages, and 18 percent had term limits for directors. This compared to S&P averages of 73 percent and 4 percent. Companies in some sectors, including banking, communications and insurance, had no term limits. Read more at CNBC.