---
title: "Spencer Stuart U.S. Board Ind… | Insights — Lyoen & Partners"
url: https://lyoenandpartners.com/insights/spencer-stuart-us-board-index-reveals-a-decade-low-in-board-refreshment-as-director-demands-intensify
description: "The 2026 U.S. Spencer Stuart Board Index finds S&P 500 board refreshment has fallen to its lowest level in a decade, with boards appointing just 364 new i…"
lang: en-US
---

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Tuesday, September 22, 2026succession

# Spencer Stuart U.S. Board Index Reveals a Decade-Low in Board Refreshment as Director Demands Intensify

The 2026 U.S. Spencer Stuart Board Index finds S&P 500 board refreshment has fallen to its lowest level in a decade, with boards appointing just 364 new independent directors and leaning harder on seasoned leadership as they confront AI, transformation and geopolitical uncertainty. Nearly two-thirds of new directors bring CEO or financial experience while only 24% are first-time public company directors, raising questions about fresh perspective and diversity of thought. For SEA scale-up boards, it signals the trade-off between experience and renewal when composing a board fit for disruption.

Sources

Spencer Stuart (https://www.spencerstuart.com/research-and-insight/us-board-index)

Topic: Boardroom Performance: https://lyoenandpartners.com/insights/topic/boardroom-performance

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