The2023 Belgium Spencer Stuart Board Index covers all 56 companies in the Bel 20 and Bel Mid indices (as of 31 May 2023).
Companies Befimmo, Mithra Pharmaceuticals, Titan Cement, Unifiedpost, and CFE dropped out of the Bel Mid.
Colruyt and VGP transitioned from the Bel 20 to the Bel Mid, and Barco and Melexis moved from the Bel Mid to the Bel
20. DEME and Exmar entered the Bel Mid.
We analysed board size and composition, committee structure and director compensation for the 2023 financial year,
compiling our research from a combination of publicly available sources such as company annual reports and websites,
minutes and agendas of general meetings, and BoardEx. The data collected for our analysis have two different cut off
dates:
Measured as of 31 May 2023:
- Board composition
- Executive committee composition
- Female representation
- Independence
- Tenure
- Board commitments
- Age
- Foreign representation
Measured as of 31 December 2023:
- Board meetings
- Board committee meetings
- Board remuneration
The2023 Belgium Spencer Stuart Board Indexfocuses on quantifiable data pertaining to boards of directors.
The tables included in the company data section of this Board Index contain detailed information on each company. The
source of the data is the companies’ latest published annual reports and corporate websites.