US directors embraces governance changes
The introduction of tighter corporate governance legislation across the globe is having the biggest impact in the US.
A study carried out by recruitment group Korn/Kerry International, which spoke to more than 1,300 directors in 15 countries, found that 87% of US company directors held meetings without their chief executive, compared with just 15% in the UK and 7% in France.
The survey also found US directors spend an average of 19 hours per month on board matters per company, up from 13 hours in 2001. In the UK, directors spend 25 hours a week on board affairs.
‘Regulations concerning governance have been enacted with never-before-seen swiftness. The definition of dedicated oversight now includes continuos improvement in corporate governance,’ the report said.