Since 2004, the Alliance for Board Diversity (ABD) has been working to diversify corporate boards. Diverse boards enhance shareholder value, according to the ABD reports.
In 2017, in collaboration with Deloitte, ABD released the Missing Pieces Report, a census of 492 Fortune 500 corporate boards, encompassing 5,440 board seats, spanning 2012–2016.
Here are some of the major findings.
• Fortune 100 companies have a greater percentage of women and minorities holding board seats than Fortune 500 companies, 35.9 percent to 30.8 percent.
• The percentage of Caucasian women holding Fortune 500 board seats in 2016 increased by 21.2 percent since 2012, and the number of seats held by Caucasian men decreased by 6.4 percent.
• Representation of African American women on boards is increasing at a faster rate than that for African American males. The percentage of African American women on the boards of Fortune 500 companies has increased by 18.4 percent since 2012, while African American men show an increase of 1 percent.
• Overall, women holding board seats have seen an increase of 20.5 percent since 2012, while men experienced a 5.1 percent loss of board seats and Caucasian men experienced a 6.4 percent loss during the same period.