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Diversity on U.S. public company boards drops to lowest level in more than a decade, study says

2026-07-29·newswire-us-stock-050029

Diversity on U.S. public company boards drops to lowest level in more than a decade, study says.

Diversity on S&P 500 company boards has fallen to its lowest level in more than a decade, according to a new analysis released Tuesday. The study by global executive search consultancy Spencer Stuart found that the proportion of S&P 500 companies adding directors with diverse backgrounds has continued to decline since peaking at 72% in 2021.

In the year ended April 30 this year, S&P 500 companies appointed a total of 364 new independent directors, of which 40% were women and minorities, the lowest level since 2014; that year the proportion was 39%.

Currently, 49.3% of S&P 500 company board seats are held by women and minority directors, down slightly from the historical record of 49.6% set in 2024 and 2025. Data from Spencer Stuart shows that directors with diverse backgrounds currently occupy 49.3% of board seats, down slightly from the historical high of 49.6% in 2024.

Spencer Stuart's George Anderson said corporate boards are adapting to changing legal, regulatory and political pressures. In 2023, a landmark U.S.

Supreme Court decision determined that it was illegal to consider race as a factor in college admissions; coupled with the Trump administration's continued attack on diversity, equity, and inclusion (DEI)-related initiatives, many companies abandoned DEI projects.

A White House fact sheet released in March said DEI initiatives were “discriminatory in nature” and would impose “real costs on the American people.” U.S.

President Trump issued an executive order on DEI measures, declaring such measures "illegal" and saying that they "not only violate the letter and spirit of long-standing federal laws, but also undermine national unity" and "American values." Affected by the continued pressure from the Trump administration, Meta, And many Wall Street banks and other companies have stopped DEI-related projects.

The data collection period used in this Spencer Stuart analysis report is from May 1, 2025 to April 30, 2026, and the information is taken from the latest shareholder proxy statements of 488 companies.

#Stocks #Meta #Amazon #IPO #SP500

Full text

Diversity on U.S. public company boards drops to lowest level in more than a decade, study says

Diversity on S&P 500 company boards has fallen to its lowest level in more than a decade, according to a new analysis released Tuesday. The study by global executive search consultancy Spencer Stuart found that the proportion of S&P 500 companies adding directors with diverse backgrounds has continued to decline since peaking at 72% in 2021. In the year ended April 30 this year, S&P 500 companies appointed a total of 364 new independent directors, of which 40% were women and minorities, the lowest level since 2014; that year the proportion was 39%. Currently, 49.3% of S&P 500 company board seats are held by women and minority directors, down slightly from the historical record of 49.6% set in 2024 and 2025. Data from Spencer Stuart shows that directors with diverse backgrounds currently occupy 49.3% of board seats, down slightly from the historical high of 49.6% in 2024. Spencer Stuart's George Anderson said corporate boards are adapting to changing legal, regulatory and political pressures. In 2023, a landmark U.S. Supreme Court decision determined that it was illegal to consider race as a factor in college admissions; coupled with the Trump administration's continued attack on diversity, equity, and inclusion (DEI)-related initiatives, many companies abandoned DEI projects. A White House fact sheet released in March said DEI initiatives were “discriminatory in nature” and would impose “real costs on the American people.” U.S. President Trump issued an executive order on DEI measures, declaring such measures "illegal" and saying that they "not only violate the letter and spirit of long-standing federal laws, but also undermine national unity" and "American values." Affected by the continued pressure from the Trump administration, Meta, And many Wall Street banks and other companies have stopped DEI-related projects. The data collection period used in this Spencer Stuart analysis report is from May 1, 2025 to April 30, 2026, and the information is taken from the latest shareholder proxy statements of 488 companies.

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