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S&P 500 boards are accelerating the addition of diverse directors, 2019 Spencer Stuart U.S. Board Index finds

October 23, 2019 GMT

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:

About Spencer Stuart
At Spencer Stuart, we know how much leadership matters. We are trusted by organizations around the world to help them make the senior-level leadership decisions that have a lasting impact on their enterprises. Through our executive search, board and leadership advisory services, we help build and enhance high-performing teams for select clients ranging from major multinationals to emerging companies to nonprofit institutions.

Privately held since 1956, we focus on delivering knowledge, insight and results through the collaborative efforts of a team of experts -- now spanning 56 offices, 30 countries and more than 50 practice specialties. Boards and leaders consistently turn to Spencer Stuart to help address their evolving leadership needs in areas such as senior-level executive search, board recruitment, board effectiveness, succession planning, in-depth senior management assessment and many other facets of organizational effectiveness. For more information on Spencer Stuart, please visit www.spencerstuart.com.

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SOURCE Spencer Stuart