Results from the latest Yaffe & Company, Inc. survey on Healthcare Board of Directors
One of the Good Governance Principles as outlined in the report by the Panel on the NonProfit Sector is to establish clear guidelines for the term length of board members.
To provide market information for our clients, Yaffe & Company, Inc. conducted a survey in May, 2007 to identify the size and term limits of the Board of Directors of Hospitals and Healthcare Systems. Over 400 institutions from 15 states participated. The results are as follows:
- The average number of members on the Board of Directors is 15, ranging from a low of 10 to a high of 25 members.
- Most Board members are elected for a specific term, with a 3 year term being the most popular as reported by 67% of the institutions.
- Over 33% of the institutions had no term limit on their members, while the remainder of the institutions did have a term limit with a 3 term limit being the most popular.
- 89% of the institutions did not have a mandatory retirement age for the Board members. If the institution did have a mandatory retirement age, the average retirement age was 73 years.
If you need assistance in reviewing your current governance principles for your Board,
Yaffe & Company, Inc. can help. Please contact us for the complete survey results or for more information.