Following two years of expansive board recruitment, CEO succession and leadership challenges, boards are adjusting pay for lead directors to accommodate the increased time commitment.
…According to reports from public company intelligence provider MyLogIQ, roughly two dozen boards in the Russell 1000 granted raises to lead directors. Those companies include Amgen, Avalara, Baker Hughes, Carlyle Group, Carter’s, Celanese, Corning, Fortinet, Marriott International, Novocure, Pinterest and Voya Financial.
Most of the increases were modest, and pay remains under the $50,000 median. However, some raises were more significant. NCR, for instance, increased its lead director retainer to $75,000 from $40,000.
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