Board Diversity FAQ
In brief: Board diversity is here to stay. The percent of Fortune 500 board seats held by women and/or minorities is at 44 percent—nearly double the level of 10 years ago and growing, albeit slowly. Given what many have called the “glacial pace of change” in board diversity, this issue remains a topic of active focus for Congress, the US Securities and Exchange Commission, the stock exchanges, and states. This FAQ offers an overview of final and pending federal and stock exchange requirements for diversity of board composition and related disclosures, as well as details on final state requirements.
This FAQ can help directors to
- learn about trends in levels and types of board diversity;
- ensure compliance with applicable federal, state, and stock exchange rules on board diversity; and
- see at a glance how state rules on board diversity compare.
Most relevant audiences: board chairs, lead directors, and the chairs and members of nominating and governance committees.