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More independent directors, but board sizes shrinking in Singapore: SID report
The report found that 75.1 of companies now have different individuals serving in the positions of chairman and CEO, up from 67.1 per cent in 2014. A greater proportion of companies are also appointing independent chairs, with 30.8 per cent of boards having independent chairs, up from 23.1 per cent in 2018.
At the same time, the study found the average board size has been shrinking. The most common board size has dropped to 5, from 6 in previous studies. Some 25.8 per cent of the companies studied in 2021 had 5-member boards, up from 22.9 per cent in 2018.
