Boardroom diversity is on the rise after racial reckoning hits private sector, study finds

Corporate America has made great leaps to increase diversity in boardrooms over the past year, a new study found.

One year after the murder of George Floyd spotlighted issues of systemic racism in the U.S., a new study found corporate America has made great leaps to increase diversity in boardrooms. Of the 456 new independent directors added to the boardrooms of companies listed on the S&P 500 this past year, nearly three-quarters (72%) were either women or people of color, according to an analysis released Wednesday by Spencer Stuart, an executive recruiting and leadership consulting firm that has been collecting data on board diversity for over 30 years. Broken down further, a record 47% of new independent directors were Black, Asian or Latinx -- compared to 22% the prior year and 14% a decade ago, the study found. The data means major companies tripled the number of new directors who are Black (comprising 33% of new directors, compared to 11% last year) and doubled the number who are Latinx (making up 7% of new directors, compared to 3% last year).