More women, more money

NEW YORK - The number of women in American boardrooms grew to one-quarter of all new outside directors last year, up from about 16 per cent in 2003.

Executive search firm Spencer Stuart's "board index" also found board members were paid more last year.

The index shows 24 per cent of the 443 new outside directors named last year at companies that make up the Standard & Poor's 500 index were women - the largest increase in one year.

Women now account for 16 per cent of board membership in the S&P 500, an increase from 13 per cent in 2003.

But female chief executives declined to seven from nine in 2003.

The average annual retainer paid to S&P 500 directors rose 14 per cent to US$50,000 ($71,560) from $43,700 last year and $33,500 in 1999.

- REUTERS