New Report Shows Black Women Hold Record Share of S&P 500 Boardroom Seats
A new report has found that the number of S&P 500 seats held by Black women has increased by more than 25% this year, following a 16% gain in 2020.
The report conducted by the ISS Corporate Solutions, the data and analytics provider that advises companies on corporate governance matters, also found that the increase for Black women is twice the rate for women overall.
Despite this, they still only hold 4% of S&P 500 board seats, the data shows.
According to data gathered by the outlet, this was the biggest increase in two months, and the average number of female directors was unchanged at 3.4, out of an average board size of 11.1.
And in 2021 – 168 Black women held 231 spots of the more than 5,500 seats at S&P 500 companies.
“It appears to be at an all-time high in terms of the number of board seats that Black females are holding today, as well as the number of unique Black female directors,” Brian Johnson, executive director at ISS Corporate Solutions, told Bloomberg.
“Even when there is still significant work to be done, and that is still the case, I do think that it’s also important to step back and notice that there has been movement and that matters,” said Marla Blow, who was appointed to Etsy’s board in November and is the president and chief operating officer of the Skoll Foundation, which invests in and supports social entrepreneurs.