Demographics chair and board remuneration – 28% and 15% increases In this section, we report on a range of statistics – of the median pay (respectively) – as well as evidence medians, percentiles, minimums and maximums – to that co-operatives are increasing diversifying their board describe the 16 Wave 1 and Wave 2 co-operatives in and recruiting younger board members. [...] so “N” numbers in the following pages are based on the number that coop/documents/pdfs/co-ops-and-credit-unions-report-from-the-board- answered the question, not necessarily on the total number of organizations room.pdf; and “Co-ops and Credit Unions: 2023 Report from the Board Room,” that participated. [...] There the representation of members from different were a lot of variances in the number of employees equity-seeking groups, whether surveyed co- from a minimum of 1 to a maximum of 46,000 in operatives incorporate diversity targets, and the Wave 1, and from a minimum of 1 to a maximum number of directors coming from the same industry of 54,000 in Wave 2. [...] In both waves of the survey, the average age of a seen in Figure 2, the proportion of directors serving director on a co-operative board was 56 years old (See more than 10 years fell to 10% in Wave 2 from 12% in Table 7), seven years less than the average of 63 years Wave 1, suggesting that board tenure may be slowly for publicly-traded firms (Stuart, 2023). [...] In 3.4 Outside Directors and Directors with Same- the full sample, for example, the maximum board Industry Experience chair compensation comes in at more than $3 As with many other aspects of co-operative million; removing this outlier co-operative drops this governance, we find no change between the two maximum to $300,000 in Wave 1 and $450,000 in waves of our survey in the share of ‘outside’ (i.
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