For the first time, 30% of all S&P 500 board directors are women (via CNBCMakeIt)
results show that companies are rising to the challenge of putting diversity on the forefront, including gender, age, race/ethnicity and professional background. In contrast, low boardroom turnover has slowed the process of achieving more diverse board composition.
When analyzing the S&P 500 directors as a whole, new directors only account for 9%, consistent with previous years.
Even though the number of S&P 500 boards with mandatory retirement policies has declined somewhat over the past decade — to 70% today from 73% in 2011 — their retirement ages continue to increase. Over half of boards with age limits have a mandatory retirement age of 75 or older, up from 48% last year and 20% a decade ago.
Despite strides for overall diversity, progress for women, according to the report, is varied. According to this year's Index, women now make up 30% of all directors in the S&P 500, which isand 16% a decade ago. However, the proportion of women among new independent directors has decreased to 47% from 43% last year.
"Most businesses today recognize that DE&I is integral to their success," Daum said. "Leveraging different perspectives contributes to a more complete understanding of opportunities and issues, fostering better decision-making and competitive advantage."
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