For the fifth year in a row, the Weinberg Center collaborated with The Conference Board on its annual (2024) review of board composition, along with KPMG, Russell Reynolds Associates and ESGAUGE. This year’s report documents record levels of demographic (racial, gender) diversity on boards, which has plateaued, as well as the emergence of substantive diversity (business backgrounds). The Center contributes both editorial assistance and financial support through its IRRCi.
Study: Corporate Boards Are More Diverse Than Ever, But Growth in Racial Diversity Among New Directors Is Slowing
2024-12-03 | The Conference Board
Corporate America’s boards are more diverse than ever. But racial diversity has recently undergone a marked slowdown. From 2022 to 2024, the share of new Russell 3000 directors who are non-White dropped from 48% to 31%. Moreover, the share of new directors who are Black fell from 26% to 12%.When it comes to gender diversity, there’s a complex picture: While women hold a record level of overall board seats (29%), they hold just 8% of board chair positions.
These findings and others come from a new report by The Conference Board, ESGAUGE, KPMG, Russell Reynolds Associates, and The John L. Weinberg Center for Corporate Governance at the University of Delaware. In addition to providing the latest data and insights on racial and gender diversity, the study also analyzes board skills, qualifications, and evaluations.