Boards Continue Size Expansions to Bring in New Directors

Roughly a dozen S&P 500 companies expanded the size of their boards during the past three months in order to recruit new directors at companies including Danaher, General Mills, Medtronic and Discover Financial Services. The data comes from public company intelligence provider MyLogIQ.

The expansion continues a trend of the past few years in which new directors — particularly those who can bring certain digital, technology or human capital oversight skills while also enhancing board diversity — are recruited onto boards without a longer-tenured director stepping down prior to the appointment.