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U.S. Board Diversity Trends in 2019

Posted by Subodh Mishra, Institutional shareholder Services, Inc.

Board renewal rates continue to increase, as board refreshment, director qualifications, and board diversity remain high-priority issues for companies and investors.

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U.S. Board Diversity Trends in 2019

Posted by Subodh Mishra, Institutional shareholder Services, Inc.

The surge in new director appointments observed in the past few years can be attributed to a greater emphasis on board gender diversity and board refreshment by many investors and companies. 

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U.S. Board Diversity Trends in 2019

Posted by Subodh Mishra, Institutional shareholder Services, Inc.

The percentage of women joining boards reaches a new record high, with 45 percent of new Russell 3000 board seats filled by women in 2019 (compared to only 12 percent in 2008) and 19 percent of all Russell 3000 seats held by women.

Proportion of ethnic directors 2019 Harv

U.S. Board Diversity Trends in 2019

Posted by Subodh Mishra, Institutional shareholder Services, Inc.

Ethnic diversity also reached record highs, but has grown at a much slower pace, with approximately 10 percent of Russell 3000 directors currently belonging to an ethnic minority group, while 15 percent of new directors are ethnically diverse.

U.S. Board Diversity Trends in 2019

Posted by Subodh Mishra, Institutional shareholder Services, Inc.

New director appointments focus on non-financial skillsets, with an increased proportion of directors having international experience, ESG expertise, and background in human resources.

U.S. Board Diversity Trends in 2019

Posted by Subodh Mishra, Institutional shareholder Services, Inc.

The increase in non-financial skills becomes more pronounced when we look at the percentage difference in the frequency of each skill for new directors compared to directors with tenure of five years or more.

 

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