The disclosure and justification of Director tenure has become a major feature of annual reports leading up to the 2014 AGM season.
The third version of the ASX Corporate Governance Principles and Recommendations notes that Boards should regularly assess independence where Directors have served in their role for more than 10 years. In practice, this means that any Directors heading towards election for their fourth term will need to be carefully considered.
Egan Associates has gathered some tenure statistics on Australia’s top 300 companies in this infographic.
