Corporate boardrooms have been expanding in recent years. In 2023 alone, there were 779 director appointments citing the reason for engagement as enlargement of the board, which translated to approximately 23% of total director engagements that disclosed a reason for appointment. While boardrooms have been expanding, the representation of women directors on corporate boards has also been increasing. There have been several public initiatives in recent years to expand boards and increase diversity.  

In this article, Audit Analytics further examines the significant spike in the number of director engagements for the specific purpose of expanding the board.