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.

Footnotes:

  1. Why Do Boards Have So Few Black Directors? (hbr.org)
  2. Analysis by Black Enterprise in 2019 showed 322 Black directors out of roughly 5,500 board seats in all at S&P 500 companies putting the percentage of Black board members at about 6% of the director seat total—a far lower representation than the 13.4 % of Americans who self-identify as Black, according to the U.S. Census Bureau.  One in eight by 2028……translates to the appointment at minimum of 365 additional Black public company board director seats, and likely a significantly higher number, to reflect the expansion in number of S&P 500 board seats by 2028, to reach a Black board room representation of 12.5% across all S&P 500 companies.
    Newsweek 6.17.2020

Nominate Form

Participant nominations are now being accepted for the cohort. We welcome referrals and self-nominations.

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Share Board Openings

Seeking candidates for to a potential board opening? Connect to start the discussion.

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Sponsor, speak, engage

Community support and sponsorship is critical to our mission’s success. Interested in speaking to our cohort or learning about sponsorship opportunities? We’d love to hear from you!

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