Despite corporate commitments to diversity, equity, and inclusion, the latest analysis reveals that 1 in 5 S&P 500 companies are bereft of African American board representation
NEW YORK, Oct. 26, 2021 /PRNewswire/ — BLACK ENTERPRISE, the No. 1 Black digital media brand, with more than 8 million monthly unique visitors, has released its latest exclusive report on African American representation on the corporate boards of 500 of America’s largest publicly traded companies today at BlackEnterprise.com.
The media company identifies 399 African American directors at S&P 500 companies, including Citigroup, Walmart, American Express, Salesforce, and FedEx Corp., on the BLACK ENTERPRISE Registry of Corporate Directors. The registry also includes 155 Black women directors. In addition, the report reveals 103 companies, more than 20%, with no African American representation among their boards of directors.
BLACK ENTERPRISE’S report spotlights prominent African American directors, including former MetricStream Inc. CEO Shellye L. Archambeau, who serves on the boards of Verizon Communications Inc. and Roper Technologies Inc.; and Park Hotels & Resorts Chairman and CEO Thomas J. Baltimore, who serves on the boards of American Express Co. and Prudential Financial Inc.
“Our 2021 Boardroom Power report—featuring our Registry of Corporate Directors—reveals that 79% of S&P 500 corporations today have at least one Black board member versus 61% in 2019,” says BLACK ENTERPRISE CEO Earl Graves Jr. “However, overall change in Black corporate leadership, for the most part, remains too slow, tepid, and inconsistent. Corporations’ claims of commitment to diversity, equity, and inclusion ring hollow with the noticeable absence of Black executives or directors engaged in the leadership, governance, and direction of major corporations.”
The registry is drawn from the S&P 500 based on market capitalization as of Sept. 30, 2021. BLACK ENTERPRISE compiled the listing by reviewing proxy statements and annual reports, as well as contacting investor relations departments, corporate governance experts, and organizations such as the Black Corporate Directors Conference and Executive Leadership Council (ELC), a network of the nation’s most highly ranked African American corporate executives.
For the complete list and the full report of “Power in the Boardroom,” go to https://www.blackenterprise.com/2021beregistry/main-registry/.
EDITOR’S NOTE: Interested press should contact Darcel Church at 718-753-3867 or via e-mail at firstname.lastname@example.org.
BLACK ENTERPRISE is the No.1 Black media brand, with more than 8 million monthly unique visitors. Since 1970, BLACK ENTERPRISE has been the premier business, career, investing, and wealth-building resource for African Americans. BLACK ENTERPRISE produces video and podcast programming, virtual and in-person business and lifestyle events, other digital media. Visit www.blackenterprise.com for more information.
SOURCE Black Enterprise