“White men are starting to lose their board room dominance at the biggest U.S. Businesses.”
That is the opening paragraph in a recent article in The Wall Street Journal which cited that women and minorities account for half of the 397 newest Independent Directors at S&P 500 companies.
This is the highest level since Spencer Stuart began tracking the date in 1998.
What is driving this change and creating increasing sensitivity and momentum?
Shareholder pressure from Institutional Investors;
The creation of the “CEO Action for Diversity and Inclusion” signed on by CEOs of 175 major companies to advance diversity and inclusion in the workplace;
A growing recognition of the value that women add;
A shrinking pool of CEO candidates for board positions;
Exposure of terrible, unacceptable, behavior across our entire spectrum of society – including political.
As the sensitivity continues to grow – with more revelations, more institutional pressure, and acceptance for the need and value of diversity – a challenge will arise.
Where can we find candidates to fulfill our diversity needs?!
Ref: The Wall Street Journal