Non-exec directors 'ought to get more'

AN influential investor advisory group has advocated higher pay for non-executive directors in a trade-off for greater accountability, fewer appointments and a better balance of skills in the nation's top boardrooms.

For the first time, a key Australian investor group has detailed what it regards as acceptable pay for non-executive board members.

Corporate Governance International, an adviser to the country's top institutional investors, says an independent director of an Australian Stock Exchange-listed top-20 company should earn an annual fee of around $200,000, rising to more than $500,000 for an independent chairman.

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Non-exec directors 'ought to get more'