ISS reported on the substantial increase in racial and ethnic diversity on Russell 3000 boards.
Key takeaways include:
- Just 10% of Russell 3000 boards disclosed no board racial/ethnic diversity as of the 2022 proxy season, compared to 38% in 2020 and 49% in 2016.
- The percentage of Russell 3000 companies disclosing two or more racially/ethnically diverse directors rose dramatically – from 29% in 2020 to 55% in 2022.
- All S&P 500 boards have at least one racially/ethnically diverse director, compared to 89% in 2020. More than two-thirds of S&P 500 boards have at least three racially/ethnically diverse directors.
- By racial/ethnic category, of the 23% of S&P 500 board seats held by racially/ethnically diverse directors, 12% are classified as Black/African American; 6% are classified as Asian; and 5% are classified as Hispanic/Latin American.
- Of the 16% of Russell 3000 board seats held by racially/ethnically diverse directors, 6% are classified as Black/African American; 7% are classified as Asian; and 3% are classified as Hispanic/Latin American.
Access additional resources on our Board Diversity page.
This post first appeared in the weekly Society Alert!