A new report has revealed a stark lack of ethnic diversity among the top business leaders in the UK and US, with just 6% of FTSE 100 Chairs and 13% of S&P 100 Chairs identifying as ethnically diverse.
The findings, from inclusion consultancy INvolve, coincide with the release of its Empower Role Model Lists 2025, supported by YouTube, which celebrate individuals actively working to create inclusive and representative workplaces. The report shines a spotlight on the gap between public commitments to diversity and the actual make-up of corporate leadership.
In the UK, only 6 out of 100 FTSE board Chairs are from ethnically diverse backgrounds, despite 18% of the population identifying as non-white in the latest census. In the US, just 13 out of 100 S&P Chairs are from non-white backgrounds, although 42% of the US population identifies as such. By contrast, 14% of UK MPs and 26% of the US Congress come from ethnically diverse backgrounds – more than double the level of representation in corporate boardrooms.
“Chairs are among the most influential figures in any business,” said Suki Sandhu OBE, Founder and CEO of INvolve. “The lack of diversity in these roles means many of the decisions affecting company culture, hiring, and strategy are being made by individuals who do not reflect their employees or customers.”
DIVERSITY AT THE TOP
While ethnic representation has improved in some areas of business and public life, the Chair position remains one of the least diverse leadership roles – and one of the most powerful. Chairs are responsible for steering long-term strategy, supporting or sidelining DE&I initiatives, and setting the tone at the very top.
As companies face growing backlash against DE&I from political and social quarters, it is often non-diverse leadership deciding whether to continue investing in inclusion, making the presence – or absence – of diverse Chairs increasingly critical.
As Suki Sandhu OBE warns, the lack of ethnic diversity among Chairs risks stalling hard-won progress. “We’re at a turning point,” pointed out Sandhu. “If DE&I is to survive current political and social pressures, we need leaders who understand its value. That means putting more diverse individuals in the top seats – not just talking about it.”
Companies that act now to embed inclusion at every level will be better equipped to face the future. Those that don’t may find themselves left behind, culturally, competitively and reputationally.
EMPOWER ROLE MODELS 2025
In response, the Empower Role Model Lists 2025 aim to celebrate and spotlight those making a difference. They include senior executives, future leaders, and advocates from across global industries who are driving inclusive change.
Top 10 of the 100 Empower Executives 2025
Recognising senior ethnic minority executives who are leading inclusively and opening doors for others, here below are this year’s top 10 out of the top 100.
- Belinda Brown – CFO, Sephora UK
- Afua Kyei – CFO, Bank of England
- John Hope Bryant – Chair & CEO, Operation Hope
- Balbir Bakhshi – Group CRO, LSEG
- Jacky Wright – CTO, McKinsey & Company
- Shirine Khoury-Haq, Group CEO, Co-op
- Karen S. Carter, Chief Operating Officer, Dow
- Elizabeth Brandon, Partner; Deputy Chair, Global Commercial Disputes, Reed Smith
- Serufusa Sekidde, Chief of Staff to the CEO, ViiV Healthcare | GSK
- Aki Hussain, Group Chief Executive Officer, Hiscox
Top 10 of the 30 Empower Advocates 2025
Recognising non-ethnic minority senior leaders who actively champion ethnic minority inclusion, here below are this year’s top 10 out of 30.
- Jackie Henry MBE – Managing Partner, Deloitte UK
- Andrew Jolly – Partner, Slaughter & May
- Michelle Russell – MD & Senior Partner, BCG
- David Aldrich – MD, Moody’s Ratings
- David Hynam – CEO, LV=
- Louise Prashad, Chief HR Office, Diageo
- Beth Knight, Sustainability Director, Lloyds Banking Group
- Matthew Crummack, CEO, Domestic & General
- Miranda Collard, Global Chief Client Office, TP
- Jon Holt, Group Chief Executive and UK Senior Partner, KPMG
Top 10 of the 100 Empower Future Leaders 2025
Celebrating rising stars who are paving the way for others. This year’s top 10 out of 100 Future Leaders include:
- Al Ramsey – VP, 2SLGBTQ+ & Black Segments, TD Bank
- Asavari Moon – Global AI & Marketing Leader, FutureEdge Academy
- Lily Satterthwaite – Regional Lead, Microsoft
- Deon Pillay – Head of Marketing Tech, Legal & General
- Neha Singh – VP, Advisory & M&A, J.P. Morgan
- Liseli Sumbwanyambe, Brand Business Leader, L’Oréal
- Amjad Khan, Customer Experience Director, Notting Hill Genesis
- Shruti Bahadur, Global Leader, Employee Experience and Employee Resource Group, Dow
- Liyana Shirin, Group Communications Manager, Brambles
- Chioma Olaley, Senior Manager – Talent Development, AMS
Congratulations to the founder of Fair Play Talks, Pepi Sappal, who has also been named in this year’s Empower Future Leaders list.
CELEBRATING 2025’S EMPOWER ROLE MODELS
All of the Role Models on the Empower Role Models will be celebrated alongside Role Models from INvolve’s other Lists at the INvolve Role Model Gala Dinner at The Guild Hall, London in March 2026, and the INvolve Role Model Reception at The Lincoln Center For The Performing Arts, New York in April 2026.
You can check out the full Empower Role Model Lists here.
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