NEW YORK, Oct. 29, 2015 /PRNewswire/ -- New trends in the board room are emerging, according to AETHOS Consulting Group's 2015 Study of Corporate Governance in the Lodging Industry. "We have seen great improvement in many key areas of corporate governance," explains AETHOS Managing Director and CEO Keith Kefgen. "Unfortunately, we continue to see a few companies with classified boards, little diversity, questionable independence, and even holding back as it relates to more performance- based compensation."
"And newer concerns have developed," adds Georgianne Fsadni, AETHOS Director based in Melbourne, Australia, who co-authored the report with Kefgen. "The three key issues which may drive change are succession planning, corporate social responsibility and issues of (cyber) security."
Of the 26 hospitality related companies and REITS studied, not one group scored perfectly with respect to size, makeup and independence of the Board due to one of the following: an even number of board members, the chairman and CEO functions not being separated, too many insiders on the board, a classified board (terms of greater than one year), and finally, the lack of a formal diversity policy.
Fsadni observes, "Six out of the 26 boards surveyed do not have a woman on the board." (Visit http://www.aethoscg.com/wp-content/uploads/2015/09/Board-Performance-in-Hospitality-2015.jpg for an overview of the total scores and the top-performing boards.)
AETHOS 2015 Lodging Board Performance Survey Results
For more information about AETHOS Consulting Group visit www.aethoscg.com and for more details about the 2015 Lodging Board Performance Survey, visit http://www.aethoscg.com/insights/board-performance-in-hospitality/
Leora Halpern Lanz
SOURCE AETHOS Consulting Group