The average age of non-executive directors (NEDs) serving on the top 150 FTSE boards was 60.6 in 2018, up from 59 in 2013 and 58.5 in 2008. This represents a 3.6% increase over a ten-year period according to the 2018 UK Spencer Stuart Board Index. NEDonBoard believes that there is a risk that having an older NED pool might mean businesses are out of touch with contemporary practices and make boards unprepared to address emerging issues, such as cybersecurity, climate change and digital transformation.
NEDonBoard is an advocate of increasing the representation of younger NEDs on boards. Although some sectors are at the forefront of cross-generational representation on boards, notably technology, most boards continue to value broad business experience above all else.