Six Black Women Add to Female Gains on S&P 500 Boards in October
The Bloomberg article, “Six Black Women Add to Female Gains on S&P 500 Boards in October,“ featured a Russell Reynolds Associates analysis on Black board directors in the S&P 500. The article is excerpted below.
Six companies in the S&P 500 added Black female directors in October, helping women pick up 18 additional spots in the boardroom and continuing a drive to increase racial diversity.
TJX Cos Inc., Intuit Inc. and Adobe Inc. were among the companies adding Black women to their boards. A Bloomberg analysis earlier this year found all three lacked a Black director. Southern Co., Cummins Inc. and Walgreens Boots Alliance Inc. also appointed Black women to their boards.
Boards have been under pressure to add at least one Black director since nationwide protests over the killing in May of George Floyd in Minneapolis. In the S&P 500, the number of Black directors rose in 2019, even as the number of companies with Black directors fell; 37% of boards lacked a Black director last year, recruiter Russell Reynolds Associates found.
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