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‘‘The role of the director is arguably more complex than it’s ever been,’’ said Brett Herand, executive compensation consultant and vice president at Pearl Meyer & Partners. Companies and investors expect more from their boards and expectations and the degree to which directors are scrutinized have never been higher, he said. ‘‘Directors must ensure their knowledge base remains current on issues that they haven’t had to face in the past—cyber security, activist investors, a 24/7 news cycle, new players in a global business environment, government regulation, etc.,’’ Herand said.
Following the recession, there was some pent-up demand to review and adjust pay levels for directors, according to Herand. “We’ve had several years of pay increases in the midsingle digits. Current pay adjustments reflect a more normal course of business,’’ Herand added.