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Board Turnover Remains Low as Company Directors Stay in Seats

April 24, 2019, 8:28 PM

Turnover on corporate boards remains low as directors stay in their seats for more than a decade on average, according to a new study from a business think tank.

About half of the companies in the S&P 500 and Russell 3000 indexes disclosed no changes in their board makeup in 2018, a similar turnover rate to 2016, the study released April 24 by the Conference Board found. Boards that changed their membership typically turned over just one seat.

Many public companies don’t see board turnover unless a director retires. Some boards enforce mandatory retirement ages, usually in the 70s, and ...