2025 U.S. Technology Spencer Stuart Board Index

The 2025 U.S. Technology Spencer Stuart Board Index is an annual report that examines board composition, governance practices, and director compensation for 200 publicly traded U.S. technology companies. This report highlights the evolving landscape of board governance in the technology sector, particularly in light of challenges such as rapid advancements in artificial intelligence and geopolitical uncertainties. The index reveals that the average board size remains at 8.8 members, with a steady number of independent directors. Notably, the representation of women on tech boards has decreased to 30%, marking the first decline in over a decade. The report also discusses the increasing complexity of board oversight, as companies adapt to disruptive technologies and global market trends. Additionally, it presents insights into the backgrounds of new directors, with a growing emphasis on financial expertise and diversity. The methodology for data collection is based on proxy statements filed with the U.S. Securities and Exchange Commission.