Boards Emphasizing Experience And Skills Over First-Time Directors

New research shows that fewer new directors joined corporate boards in 2026, as boards again prioritize experience and skills when reconfiguring leadership teams.

Board refreshment in the Russell 3000 and S&P 500 slowed in 2026 as 52.6 percent of Russell 3000 companies and 43.8 percent of S&P 500 firms added no new directors. Additionally, the report, co-produced by The Conference Board, Russell Reynolds Associates, the KPMG Board Leadership Center and the John L. Weinberg Center for Corporate Governance, noted that even the share of newly elected directors serving for the first time “fell year over year from 39.1 percent to 21.6 percent in the Russell 3000 and from 27.8 percent to 17.6 percent in the S&P 500. Combined with rising new director ages, the pattern points to a greater premium on demonstrated experience.”

The study also reports that boards are focusing more on recruiting former and current CEOs:

• In the S&P 500, former CEOs represented 23.9 percent of newly elected directors in 2026, up from 17.4 percent in 2022. Active CEOs represented 20.3 percent, up from 17.4 percent.
• In the Russell 3000, former CEOs accounted for 23.1 percent of newly elected directors in 2026, up from 15.4 percent in 2022. Active CEOs represented 16.1 percent, up from 13.6 percent.

The reliance on experienced directors is a response to multiple risks that are presenting unprecedented challenges to many companies, says co-author Ariane Marchis-Mouren of the The Conference Board Governance & Sustainability Center. “Amid rapid AI advances, geopolitical uncertainty and regulatory change, companies are favoring directors with proven leadership experience. With board turnover slowing, each appointment carries greater weight in determining how effectively companies can navigate an increasingly complex business environment.”

As fewer new directors are recruited to sit on boards, the current pool of directors, CEOs and former CEOs may begin to receive offers to serve on a higher number of multiple boards. Therefore, keeping valuable, experienced directors on your board will become a higher priority than it is now. Boards may want to consider reevaluating their composition to determine if the experience and skill level of the current directors is sufficient to handle the changing geo-political, economic and regulatory environment of today. Some questions boards might consider include:

Should we have tighter restrictions on the number of boards that directors can serve on? The increasing number of complex issues directors are confronted with, compounded with new responsibilities boards have taken on in recent years may move corporate boards to consider tighter restrictions on the number of additional boards corporate directors are allowed to serve on. Can a director be effective when serving on four or five corporate boards? Institutional investors Blackrock and Vanguard suggest limiting CEOs to serving on one additional board and non-executive directors to three or four.

Does every board committee have members with elite skills and experience? Every board should conduct periodic individual director evaluations to determine if each member is a good fit for the ongoing needs of the company. Companies evolve and their board must evolve with them. Changes in corporate strategy may require changes in board directors. Committee responsibilities are often adjusted or increased, and committee members may need to be changed to add missing experience and skills.

Is there a process to identify and recruit additional experienced board members in place? The process of recruiting executive talent is crucial to the future success of any company. Since experienced board members will likely be in high demand going forward, each company must develop ways to interest the best candidates to consider joining their board. Whether hiring recruitment firms or encouraging board members to refer candidates, companies will need to formalize their efforts to strengthen the experience on their board or risk falling behind their peers.