Black and Hispanic CEOs at largest US groups make more money than white peers, data show
ISS survey reveals higher median pay for small number of diverse bosses in Russell 3000
Jennifer Williams-Alvarez, Billy Nauman
The Financial Times article, "Black and Hispanic CEOs at largest US groups make more money than white peers, data show," quoted Russell Reynolds Associates Consultant Bradlee Benn on the increase in demand for diverse CEOs. The article is excerpted below.
Black and Hispanic chief executives are few and far between at the largest companies in the US, but those who have cracked the glass ceiling on average make more money than their white counterparts, according to new data from Institutional Shareholder Services.
Diverse executives are in high demand as the US reckons with questions of racial inequality, in particular after the killing of George Floyd in May, said Bradlee Benn, a co-leader of the diversity and inclusion practice group at the search firm Russell Reynolds Associates.
Because of this, diverse chief executives can be more selective about the roles they accept, which is positively affecting their pay, he said. “When you have increased demand for limited supply, sometimes it could potentially inherently drive up the cost.”
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