Largest US Companies Boosted Numbers of Black & Latino Board Directors
This spring, S&P 500 companies tripled the share of new directors who are Black and more than doubled the share who are Latino, according to a recent article in the WSJ. Approximately 75% of the new directors are women, or belong to a racial or ethnic minority, up from 60% last year and 31% 10 years ago. Now, a third of the S&P board members are Black (compared with 11% the previous year) and 7% Latino (up from 3% last year).
While nearly 80% of the companies’ board seats are filled by white directors, and about 70% by men, the recent uptick in diversity and inclusion at the board level is positive. Opening boardroom doors to those with varied skills, backgrounds and experiences is good news for our society, reflecting recognition of the benefits of a Commerce with a Conscience best practice mindset.