The size of boards varies significantly between Canadian and U.S. companies represented in the Entrepreneurial Boards Composition and Compensation Survey: The Canada Report. (See Figure 2.1.) Canadian corporations report between five and eight board directorsrs, while U.S. companies report between three and nine board directors. The median for companies in both nations, however, is six. The results were based on a revenue-matched sample of Canadian and U.S. corporations.
The 2006 Silicon Valley Board Index (SV100) survey from Spencer Stuart notes that 48% of the top 100 companies in the valley have between five to seven board members and 36% have between eight and nine board members. Only 16% have 10-11 board members and none have more. By contrast, the S&P 500 40% have 10-11 board members and 26% 12-14. Also, in the smallest of the SV100 index (companies under $250m) have an average of 5-7 board members.
Small entrepreneurial companies need to move fast and need smaller boards with plenty of high powered strategic insights.
Figure 2.1: Board Size - Canadian vs. U.S. Companies
Based on a revenue matched sample of Canadian and U.S. Corporations