S&P 500 boards are accelerating the addition of diverse directors, 2019 Spencer Stuart U.S. Board Index finds
NEW YORK, Oct. 23, 2019 /PRNewswire/ -- S&P 500 boards appointed 432 new independent directors in the 2019 proxy year, the most since 2004, and 59% were women and/or minorities, up from 50% last year, according to a new study by Spencer Stuart, one of the world’s leading executive search and leadership advisory firms. The 2019 U.S. Spencer Stuart Board Index found that boards are listening to shareholders’ and other stakeholders’ calls for increased diversity in their boardrooms, from gender, to age, race/ethnicity and professional background. However, changes to overall numbers continue at a slow rate due to persistently low boardroom turnover, with the incoming class again representing only 8% of all S&P 500 directors.
“Board composition is being scrutinized as never before,” said Julie Hembock Daum, who leads Spencer Stuart’s North American Board Practice. “Boards are responding to the attention by increasingly casting a wide net to identify the director talent best aligned with the company’s current and forward-looking challenges, opportunities and strategies.”
Spencer Stuart’s research found:
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