The chair of a listed entity should be an independent director, and separate from the person occupying the position of Chief Executive Officer. (Recommendation 2.5 of Corporate Governance Principles and Recommendations (CGPR))
We conducted a sector-wise analysis of Top 100 Listed Companies (based on market capitalisation) vis-à-vis independence of chairpersons, and discovered the following:
1. 100% of the chairs in Consumers Stapes, Utilities, and Real Estate sectors were independent directors.
2. By percentage, Communication Services (40%), Materials (33%), and Consumer Discretionary (30% ) had the highest number of non-independent chairs.
3. By sector weightage, the percentage of non-independent chairs in the top three sectors was 33% in Materials, 6% in Financials, and 8% in Industrials.
Download our 2024 Governance Impressions Report for more such insights: https://lnkd.in/g8PcB-eb
#asx #corporategovernance #companysecretary #advacta #governanceimpressions #independentchair #board
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