Independent directors' pay soars as work increases

Pay for independent directors has risen sharply as corporate gover­nance reforms force US compa­nies to hold longer and more fre­quent board meetings. In a sign of the growing burden felt by corporate America, analy­sis of 2004 compensation data shows average remuneration for so-called "non-employee" direc­tors at the top 200 US companies rose 13.4 per cent to $177,000 (£97,000). Fees paid for attending committee meetings jumped by more than a third.

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