More independent directors, but board sizes shrinking in Singapore: SID report

BOARDS in Singapore are appointing more independent directors, even as the average board size is shrinking, according to a report published by the Singapore Institute of Directors (SID) on Wednesday (Nov 3).

The 2021 Singapore Directorship Report found that the percentage of independent directors on boards has risen to 54.4 per cent. It marks an increase from 50.7 per cent in the previous report in 2018, and 47.5 per cent when the study was first conducted in 2014.

The report - which is in its fourth edition - highlights some of the emerging trends on listed boards, following revisions to the 2018 Code of Corporate Governance and codification of certain requirements in the listing rules.