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CRI Releases Its 2007 Board of Directors Compensation Survey
Upper Saddle River, N.J. – April 10, 2007 - Compensation Resources, Inc. (CRI) has released the results of its 2007 Board of Directors Compensation Survey. The purpose of this study was to obtain compensation, benefits, incentive, and general background information for Board of Directors. Data was collected in February and March 2007, and was compiled from survey questions that were developed by CRI and distributed to companies in over 13 industrial classifications, representing publicly-traded, privately-held, and non-profit organizations. The following table provides a summary of compensation data in reference to Board of Directors:
Overall Summary
| All Respondents (averages)
| In-person Meeting Fee ($)
| $1,700
| Telephonic Meeting Fee ($)
| $1,200
| Annual Chair Retainer ($)
| $32,500
| Annual Director Retainer ($)
| $27,200
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Slightly more than half (51.4%) of respondents indicated that the position of Chairperson/CEO is divided into two separate positions. Interestingly enough, with all of the recent corporate governance concerns, publicly-traded (60.9%) and privately-held (60.4%) companies do not have their Chairperson/CEO position split, but 80.5% of non-profit organizations do have this position split into separate roles.
Only 30.2% of respondents indicated that their Director’s compensation increased during the last 12 months. However, of those that did report an increase, 26.0% was the average percent of increase for the Director’s compensation. For those companies that did not provide an increase in the past year, the majority of them (67.8%) also indicated that the compensation should not be increased.
In general, the majority of participants rated their Board as effective in the following areas: Board/committee compensation, outside advice, executive pay philosophy, oversight of executive compensation, and annual approval and review. Almost 40% of respondents; however, felt the Board was only somewhat effective in the area of benchmarking.
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