Board Dynamics: Surging Resignations Among Independent Directors in India

The Russell Reynolds Associates report highlights a significant rise in resignations among independent directors on India's NSE boards, with 94% of mid-term cessations due to resignations. The report also notes incremental gender parity progress, HR expertise among NRC chairs, and independent directors' representation disparity with global markets.

The latest report by Russell Reynolds Associates reveals a striking trend in the boardrooms of India's top companies. An overwhelming 94% of mid-term departures among independent directors stemmed from resignations, primarily due to other commitments.

India's boardrooms are also gradually making strides in gender diversity, with women now accounting for 21% of all directors, though still lagging behind international benchmarks. The representation disparity between independent and non-independent roles is noteworthy, with women holding 29% of independent director positions.

The report highlights the necessity of HR expertise among NRC chairs, suggesting that boards will benefit from such skills. Additionally, it underscores the importance of independent oversight in CSR initiatives, despite a slight decline in independent CSR chair roles.

(With inputs from agencies.)