The average age of the chairs is 65, a decrease of two years from 2018. Even so, it again exceeds the average age for shareholder representatives. This is especially true among the DAX companies, where chairs have an average age of 67. The age range is enormous: falling between 43 and 82 years it spans more than one generation.
Average tenure among chairs is 4,7 years, marking the first drop since 2012. Previously, tenure fluctuated at around 5,5 years. This development is probably attributable to recent changes in chairmanship. The range of tenure among individual chairs is large, ranging from less than one year to 23 years. Among DAX companies average tenure is significantly higher, at 6,2 years.
There are five female chairs among the total sample, accounting for 7,4% of the total and rising from three women chairs in 2018. In DAX companies, only the board of Henkel has a chairwoman (3,3%). Around 13% of the total chairs are foreign, as they are among the DAX companies. For comparison: internationality among shareholder representatives is more than twice as high, at around 29%.
This year the chairs of the supervisory boards hold on average 2,4 board seats in stock corporations (including private ones). DAX chairs occupy 2,5 on average. The difference seems insignificant, but proportional distribution of the number of board seats varies widely (see table below).
Number of board seats held by chairs, 2020
|Chairs, total sample
While the majority of the chairs of the total sample holds one or two seats, most of the DAX chairs (60%) fill two or three seats. Significantly more chairs in the DAX group than in the total sample hold four seats.
Chairs are highly engaged in committee participation, although the extent has declined. On average, they chair 1,5 committees, which is fewer than the 2,4 committees noted in previous Board Indexes. On average, chairs are an ordinary member of one committee.