Keeping Track: Who's in the boardroom?
What group is making its presence felt in the boardrooms of corporate America? Retirees.
In fact, at least one retiree now sits on 86 percent of all boards of directors, up from 82 percent in 1998. Korn/Ferry International, an executive-search firm, says more companies are realizing that retired, experienced executives can deliver great value to shareholders.
Chief executive officers - long the most sought after outside directors for major US corporations - dropped into third place, remaining at 82 percent. Korn/Ferry says companies increasingly are setting a limit on the number of outside boards on which their CEOs can sit, generally two besides their own.
Women and ethnic minorities have edged into more boardroom chairs over the past several years.
(c) Copyright 1999. The Christian Science Publishing Society