In "Overboarding by Public Company Directors: 2019 Update," Hunton Andrews Kurth shares this recent Morrow Sodali synopsis of the director overboarding policies of ISS, Glass Lewis and a number of large institutional investors, which makes for a handy reference tool for companies and their boards in considering whether and to what extent to impose a director limit on other board service.
The firm emphasizes that overboarded directors are not per se ineffective; rather, companies should be aware of their investors' policies and consider the underlying concerns that drive them (e.g., potential inability to devote sufficient time and attention to board service), and should be well-prepared to engage on this topic with investors if/when the topic arises. See our recent reports: "Director Overboarding Trends" and "Overboarding: Disclose Plans to Reduce Directorships." Access additional information on our Institutional Investors, Proxy Advisors, and Board/Governance Practices pages. This post first appeared in the weekly Society Alert!