Regulation and evolution of boards of directors in Switzerland over 30 years. An analysis of Swiss board of directors from 1988 to 2017

Boards of directors have been subject to unprecedented pressure to change and professionalise in recent decades. Boards have become smaller and more diverse, directors now hold fewer seats, and committees have been established. Many significant changes occurred before 2002 when the Swiss Code of Best Practice was introduced. The results show that even without strict regulations firms continuously modernize and professionalise their board of directors.