We have released the first edition of our publication – OnBoard - on Board Composition & Non-Executive Director Compensation under Aon’s newly formed Corporate Governance Centre. Its key objective is to help our clients optimally benchmark Board and committee structures as well as compensation paid to Non-Executive Directors through data-backed research. The report has been prepared with information from the top 158 listed companies in India covering over 1,200 unique Directors. The elements covered by the report will help our clients in ensuring that the right governance structures are in place in their organization laying a solid foundation of ethics. Some of the many interesting insights from the report are listed below:
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On an average, each Board comprised of 10 directors with more than 50% directors being independent
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There are 6 Board committees per company with the number of committees in Banks and Insurance companies being the highest
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Most Board chairmen are members of the Nomination and Remuneration Committee (NRC) and Corporate Social Responsibility (CSR) committees
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An independent director is paid INR 28.8 Lakhs of which 23% is paid as sitting fees and the remaining 77% is paid in form of profit-related commission
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About 3 crore rupees was paid as total commission to all non-executive directors (representing about 0.24% of Net Profits)
Report Release: 29th January 2019
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