India’s Boards See Early Exits Driven by Resignations, Women’s Representation Rises Slightly

According to Russell Reynolds Associates’ recently published Board Matters: India Board Analytics Report, 94% of mid-term board cessations among Independent Directors in the top 200 NSE-listed companies during the first three quarters of 2024 were due to resignations. The leading cause cited was preoccupation with other commitments, which accounted for 54% of resignations. This was followed by personal reasons (27%) and health or age-related concerns (6%).

On a positive note, the report observed a slight rise in female representation on Boards, reaching 21% in 2024. However, India continues to lag behind global benchmarks in gender diversity. The analysis also flagged a persistent gap in HR expertise among chairs of Nomination and Remuneration Committees, underscoring an area for improvement in Board competency.