Did you know? Overboarding: New policy on directors spreading themselves “too thin”

As of November 2015, Both ISS and Glass Lewis have changed their policy regarding overboarding,effective in the 2017 proxy season.

As described in ISS policy information, the concept of “overboarded” or “overboarding”, which refers to a director who sits on an excessive number of boards, is long-standing. Directors are considered overboarded if, at the time of the annual meeting, they sit on a number of boards which could result in excessive time commitments and an inability to fulfill their duties. Increasingly, companies consider concerns about over-committed directors and some have adopted policies limiting the number of boards on which their directors may serve. Overboarding can create negative vote results for a director across all his or her boards.

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