When the X-Men incorporated on 25 May 1992, the first board of directors was made up of the two franchises' executive officers (Black Lightning and Rogue) and their deputy leaders (Psylocke and Strike respectively). Rogue remained on the board of directors when Strike replaced her as executive officer on 2 June 1992; however, when Cannonball replaced Black Lightning as executive officer in July 1992, he also took his place on the board of directors. The board of directors remained unchanged following the merger of the two franchises on 18 December 1992, and when Strike left the X-Men on 14 February 1993 Stellar was elected by the members to his place on the board of directors.
Following Strike's departure, the board of directors decided to clarify the rules for its composition and membership. The board decided that all four positions should be open for election annually instead of being held until relinquished; and that the executive officer and deputy executive officer should not be eligible for election to the board, to avoid the possibility of any conflict of interest. Accordingly, the first general election of the board of directors was held on 10 May 1993, and returned Marvel, Nightcrawler, Shimmer and Stellar as the second board of directors. Cannonball (executive officer) and Psylocke (deputy executive officer) were ineligible, and Rogue wasn't interested in a second term of office.
Towards the end of the tenure of the second board of directors, Cannonball announced his intention to stand down as executive officer and take an extended leave of absence. Shimmer and Stellar both declared that they would stand for the position of executive officer, so the general election of the board of directors was delayed until after the election of the executive officer on 16 May 1994. Following Stellar's election as executive officer, the general election of the board was held two days later, and returned Energon, Marvel, Nightcrawler and Shimmer as the third board of directors.
Shimmer should have resigned from the board of directors on 19 November 1994, when she was appointed as deputy executive officer following Psylocke's departure. However, as the board of directors had no business to transact, she did not resign until the X-Men collectively decided to separate into two franchises, one at San Francisco and one at New York. As Energon was also resigning from the board, having agreed to take on the position of deputy executive officer for the New York franchise, Marvel and Nightcrawler decided to stand down as well. A general election of the board of directors was held on 10 February 1995, and returned Guardian, Joseph, Shadowcat and Rogue as the fouth board of directors. However, as both Guardian and Shadowcat expressed interest in participating in the superhero exchange program, another general election was held on 31 May 1995, and returned Challenger, Joseph, Marvel and Rogue as the fifth board of directors.