Mid-sized firms see biggest boost in director fees: Hay Group

Singapore

FEES of non-executive directors at Singapore-listed companies rose for the financial year 2013/2014 compared to a year ago, led by higher pay for directors of mid-sized firms, global management consultancy Hay Group said in a report on Monday.

And as boards go through restructuring to meet the requirements of the revised Code of Corporate Governance - to take effect in May next year - more companies have begun to take board independence more seriously.

Non-executive directors received an increase of 7.1 per cent in the median of the average director's fee - or S$60,000 per annum - in the financial year 2013/2014, compar…