Businesses in Britain face a growing shortage of non-executive directors as the risk, responsibilities and time commitments of the job deter suitable candidates.
Research by Deloitte has found that governance changes have put pressure on individuals to hold fewer non-executive positions. Together with the requirement that 50 per cent of the board be made up of independent non-executive directors, the demand for high quality individuals is increasing.
Carol Arrowsmith, head of remuneration at Deloitte, said: "76 per cent of companies have changed the composition of the board in the past twelve months and there are now 50 per cent more non-executives than executive directors, compared to 40 per cent more last year."
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