The majority of corporate boards of Fortune 500 companies remain predominantly white and male, according to a new report.
The new research carried out by diversity recruitment firm Mogul Inc found that 69% of board members are male compared to 31% female. Additionally, 78% of board members are White, compared to 22% non-White
The report entitled “2022 Board Diversity: Inequalities in Race and Gender”, revealed that there are no Native Americans serving on any Fortune 500 boards. Additionally, Board chairs – the most influential roles on boards – are 91% White and 82% male.
BOARD DIVERSITY
Notable changes from the 2021 report, showed that:
- Most new board members in 2022 are predominantly white males (68%).
- More companies on the 2022 list have zero ethnic diversity since last year (22
- companies compared to 16 last year).
- Two companies on the Fortune 500 list have no diversity at all: no gender diversity and no ethnic diversity – a slight improvement, compared to three companies last year.
“Many companies look for diverse talent through traditional networking channels, which are 85% non-diverse. When they can’t find diverse talent in those networks, they may mistakenly conclude that the talent simply doesn’t exist,” said Tiffany Pham, Founder, CEO, and Chairman of the Board at Mogul. “Our platform has a diverse candidate pool of 494 million individuals across 195 countries. 148,000 of them are C-suite executives and 99,000 are diverse c-suite executives. Diverse talent at all levels is plentiful if you look outside of mainstream networks. Diverse talent exists if you know where to look,” concluded Pham.
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