Skills Matrices Morph into Refreshment Tool

Once seen as a pesky disclosure responsibility, skills matrices have grown increasingly common in recent years, evolving from a boilerplate exercise to a useful internal tool in the refreshment process, as well as in proxy contests, sources tell Agenda.

More than half (55%) of the S&P 500 now disclose board skills matrices as pressure to refresh the diversity, background and skills of board members hits a boiling point.

This is an 18% increase from last year, according to data from public company intelligence provider MyLogIQ. Investor pressure, a new universal proxy mandate and a swarm of disruptive issues for directors to oversee have driven this increase, sources say.