Missing Pieces Report: Industry View (Report)Jan 16, 2020
The Missing Pieces Report: The 2018 Board Diversity Census of Women and Minorities on Fortune 500 Boards (Missing Pieces Report), a multi-year collaboration between the Alliance for Board Diversity and Deloitte, examined progress made from 2016 to 2018 in adding women and minorities to public company boards of directors across America’s largest companies. Since launching the report last year, the Alliance for Board Diversity and Deloitte have examined the data from another angle—taking a look at the Fortune 500 in alignment with their respective industries, which are classified as consumer; energy, resources and industrials; financial services; life sciences and health care; and technology, media, and telecommunications.
Perhaps the most promising trend in that report was the increase in the number of Fortune 500 companies with greater than 40 percent of board members who are women and/or minorities—a figure that has nearly tripled since 2010. Nearly one-third of all Fortune 500 boards now have greater than 40 percent diversity, a target set by the Alliance for Board Diversity. While progress is being made, the raw numbers are still small. Among other benefits, diversity has been linked to greater innovation, better financial outcomes, and increased transparency for companies. Given these facts, the Alliance for Board Diversity and Deloitte examined the data from another angle by taking a look at the Fortune 500 in alignment with their respective industries. Viewing the numbers by industry allows for a deeper conversation about where headway has been made and where more opportunities for diversity in the boardroom may lie.
About the Alliance for Board Diversity
Founded in 2004, the Alliance for Board Diversity (ABD) is a collaboration of four leadership organizations: Catalyst, The Executive Leadership Council (ELC), the Hispanic Association on Corporate Responsibility (HACR), and LEAP (Leadership Education for Asian Pacifics). Diversified Search, an executive search firm, is a founding partner of the alliance and serves as an advisor and facilitator. The ABD’s mission is to enhance shareholder value in Fortune 500 companies by promoting inclusion of women and minorities on corporate boards. More information about ABD is available at www.theabd.org.