By jessie kornberg • May 05, 2011•Firms and the Private Sector
In 2004, as part of the Alliance for Board Diversity, Catalyst surveyed Fortune 100 boards for gender and racial diversity. 6 years later they've released an update and increased the survey to include the Fortune 500. The results are troubling:
- In the last 6 years the number of Fortune 100 seats held by women has increased from 202 (out of 1,195) to 218 (out of 1,211). But virtually all of these seats were taken from the share of seats previously held by African-American men, who lost 42 seats on Fortune 100 boards in the last 6 years while white men now hold 32 more seats than they did 6 years ago. So overall, boards are no more diverse today than they were in 2004.
- The numbers are even worse in smaller companies. White men represent 77.6% of Fortune 500 directors. Women represent only 15.7% of Fortune 500 directors.
- In the Fortune 500 there are only 15 companies with at least one member from each U.S. Census group (men, women, white, African-American, Asian/Pacific Islander, Hispanic). Only 1, Avon, has 30% or more women directors.
- 94.9% of board chairships are held by white men int he Fortune 500.
Frightening stuff. To download the report, click here.