Bolster's Board Benchmarking Study

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The Important Role Independent Directors Play on
Private Company Board Diversity
Research from Bolster’s Board Benchmarkin...

We surveyed CEOs of private companies
to understand the:
● Diversity
● Composition
● Compensation
of their Boards of Direc...

● 250 companies
● 650+ board directors
(47% investors, 41% management/founders,
and 11% independent directors)
● Represent...

What our research found about board diversity & composition
Use the hashtag, #flipthescript to share this study and how yo...

Only ⅓ of boards have independent directors
#flipthescript
But half of
companies in
our study have
an open board
seat

More than half
of boards have
no diversity
#flipthescript

Most boards have room for independents
A lot of boards take
up space with
management &
investor directors
#flipthescript

Director seats are primarily held by men
Only 14% of board
director seats
overall are held by
women
#flipthescript

Women are 3x as likely to be independents
Our findings
indicate that CEOs
are beginning to
leverage
independents to
divers...

8 in 10 board
directors are White
Most race & ethnic diversity
on boards come from
management directors
#flipthescript

Boards are by and large racially homogenous
When compared with
population data in the
U.S., the biggest
representation
dis...

The age range of directors follows a bell curve
83% of
companies have
directors
spanning
multiple age
ranges
#flipthescript

A post-grad degree is not a requirement for independents
41% of independent
directors have only
an undergraduate
degree or...

Actionable tips for CEOs and Board Leaders to #flipthescript on board diversity
What CEOs & Board Leaders Can Do

Don’t “double up” on board
seats.
- Opt for just one
management director
or founder
- Limit your investor
seats
- Aim for ...

Don’t wait until the Series C stage (or later) to
add independent directors to your board.
- Maximize the reach of your ne...

Recruiting starts with building relationships.
- Seek out diverse perspectives from other
senior leaders all the time, not...

Diversity is step one. Inclusion follows.
- Be wary of “tokenizing” individuals who
bring much-needed diversity to your
bo...

Every executive and director plays a role in
board diversity.
- If you’re a member of the majority
group on a board, move ...

Read the full study at bolster.com/benchmark
About Bolster
Bolster is an on-demand talent marketplace for executive and bo...

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