US Companies Slow Progress in Recruiting Black Directors to Boards – Bloomberg

The share of new Black directors at S&P 500 companies fell by nearly in half in 2023, returning to levels closer to those seen before the murder of George Floyd by police brought fresh attention to the lack of diversity on corporate boards.

Black directors made up 15% of the newly appointed board members appointed by companies in the S&P 500 last year, a drop from 26% in 2022 and heading back towards the 11% mark of 2018, executive recruiter Spencer Stuart said Tuesday in a report. The representation of other non-White directors was about the same as a year ago and stronger than in 2018: Hispanic directors were 9% of new appointments, up from 8% in 2022, but still about half their representation in the overall population, the data showed. Black people are about 12% of the US population.

Source: US Companies Slow Progress in Recruiting Black Directors to Boards – Bloomberg