Boards are granting compensation increases to non-executive chairs and lead directors as both roles grow increasingly more complex and, more broadly, as governance processes and board quality take center stage with investors.
An analysis from SEC filings analyzer MyLogIQ shows that such companies as CIT Group, Insperity, International Flavors & Fragrances, Kroger, Old Dominion Freight Line, Penske Automotive Group , Sientra and Verint Systems have granted pay raises to lead directors in the past year, some more than doubling the retainers for the role. Others such as Carlisle Companies, ConMed Corp., HCP, Lyondell Basell Industries, Mosaic, Office Depot and Rent-A-Center boosted pay for board chairs. In addition, Walmart, which has a lead director and board chair, granted raises to directors in both roles following the board’s review of its annual pay benchmarking analysis.
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