Corporate Governance

Corporate Governance and Exec Compensation 2021

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Shearman & Sterling LLP 33 | Board Size and Leadership Board Size of the Top 100 Companies 7 directors 8 directors 9 directors 10 directors 11 directors 12 directors 13 directors 14 directors 15 directors 16 directors 17 directors The Board Size of Size of the Board The Board Size of the Top 100 Companies Ranged from 7 to 17 directors with an average of 72 of the Top 100 Companies ranged from 11.6 directors 10-13 directors Board Size and Leadership The average size of the board of the Top 100 Companies has decreased from 12.5 directors in 2015 to 11.6 directors in 2020, and 39 of the Top 100 Companies have split the CEO and board chair positions. Data 2 9 15 18 28 8 11 2 2 4 1

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