On the occasion of the USA's 2023 Summit of the NACD (National Association of Corporate Directors), it is worth remembering that Board diversity needs to catch up. ALBEI's US counterparts at Association of LGBTQ+ Corporate Directors conducted recent analysis of NASDAQ-listed companies' Board Diversity which showed abysmal numbers for underrepresented groups, often worse than in the Fortune 500 block.
While the Association of LGBTQ+ Corporate Directors discussed LGBTQ+ representation (1.2% of all Board seats), the study painted a dire picture of diversity on NASDAQ-listed companies boards. Women only hold 25% of these board seats, African Americans 4.3%, Asian/Pacific Islander 9%, Hispanic/Latino(a) 2.3%, and Native Americans 1% in 2022. In comparison, that year, women held more than 30% of Fortune 500 board seats, African Americans 11.9%, Asian/Pacific Islander board members 5.4%, and Hispanic/Latino(a) 4.7%.
The full US study is available here.
ALBEI's Mark Baxter shared his reflections on this in a recent LinkedIn post here.
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