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2022 S&P 500 Board Diversity Snapshot

June 2022

Our 2022 S&P 500 Board Diversity Snapshot examines the progress S&P 500 boards have made in the past year in increasing the diversity of their composition. Our study looks specifically at the representation of historically underrepresented groups — defined as individuals who self-identify in one or more of the following categories: women, underrepresented racial/ethnic groups or the LGBTQ+ community — among all directors and the 2022 incoming class of directors.

The snapshot also highlights proxy disclosures related to veterans and directors with disabilities and provides advice to boards for increasing refreshment and building a robust — and diverse — board talent pipeline. Among the highlights:

  • 72% of the incoming S&P 500 class of directors come from historically underrepresented groups.
  • 32% of all S&P 500 directors are women and 22% are from historically underrepresented racial and ethnic groups — defined as Black or African American, Asian, Hispanic or Latino/a, two or more races/ethnicities, American Indian/Alaska Native, and Native Hawaiian or other Pacific Islander.
  • Diversity in board leadership lags board diversity overall. Just 9% of S&P 500 independent board chairs and 10% of lead directors are from historically underrepresented racial or ethnic groups.


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