In an analysis of new S&P 500 directors by demographic, starting in 2021 the proportion of new S&P directors by demographic has returned to rates that include an even lower proportion of Black directors than before 2016, after temporary gains.
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@natematias Thanks for posting — I've known anecdotally that board diversity wasn't as much of a priority as it was at many companies, but it was eye-opening to discover just how much it's the case. In case that link is paywalled, this should be a gift link: https://www.wsj.com/business/dei-rules-that-changed-corporate-boards-are-vanishing-cab9ec12?st=kEPScG&reflink=article_copyURL_share
@theofrancis thank you for doing this research, writing about it, and illustrating in such a clear way, with such good context!
I'm sure organizations will blame legal threats, but the data show that across the S&P500 at least, this change just enshrines a trend to de-prioritize leaders of color that they adopted well before 2025
https://www.nytimes.com/2026/02/17/business/goldman-sachs-diversity-board.html
