The Challenge

“One in Eight by ‘28”​

Approximately one in eight Americans identify as Black or African American,¹ yet in 2019 37% of S&P 500 corporations did not have a single Black board member. That same year, Black directors comprised just 4.1% of Russell 3000 board members.² The Black Boardroom Initiative commits to working to increase the proportion of Black-held seats on S&P 500 boards to one in eight by ‘28. Attaining this goal aligns board representation with the demographics of the community and reflects the broad, existing pool of talented Black executives.

Our Conviction

2020 shone a stark light on the historical inequities that Black individuals and communities have faced in our state and our country. It brought an urgency to the challenge: How do we take action to diversify corporate leadership —beginning with the board? We are driven by the conviction that diverse voices on corporate boards have significant benefits including fresh thinking, stronger governance and the encouragement of diversity throughout the organization and the broader community.