In the proxy, the board skills matrix, which presents the qualifications and experience of each individual director, is key to demonstrating that the proposed slate of nominees has the expertise needed to guide the company’s long-term strategy and create shareholder value. The initial iteration of the matrix included a list of skills with checkmarks or similar indicator for each of the applicable directors possessing the requisite experience.
Later versions of the matrix include, or are supplemented with, a description of each desired skill and (ideally) how the skill is relevant to board effectiveness for that specific company. To emphasize the connection to strategy, some skill matrices now visually present qualifications related to strategy separate from other necessary competencies of its board members.
Here’s an example from Lumen’s 2025 proxy:
And here’s an example from Honeywell’s 2025 proxy:
And here’s an example from ServiceNow’s 2025 proxy – see page 14…
