Tenure limits in place with boards and leaders

May 30, 2019

This list looks at tenure limits, binding and advisory, that apply in various leadership institutions. Interesting concept should be more widely applied.

ANZ: 9 year term as is explained on page 64 of this document. Can be waived.

European Commission: recommended independent directors serve a maximum of 3 terms or 12 years.

Macquarie Group
: has a 15 year tenure limit which was applied to Helen Nugent but extended for chairman Kevin McCann.

RACV: 12 years for directors plus a 72 year age limit.

Rio Tinto: generally works to a 9 year limit which was recently applied to Mike Fitzpatrick.

UK Corporate Governance code: explain why still independent after 9 years.

US President: two fixed terms or 8 years in total.