Women Secure a Record Number of New Board Appointments

Nearly half of all new Fortune 500 board appointments last year were women (45%), an all-time high, per a new report from executive search firm Heidrick & Struggles.

💼🏢 Who's in the boardroom?... Overall, the share of women on public boards has steadily increased from 19% in 2015 to 29% last year. 

• 43% of all new public board seats in 2021 were filled by first-time directors – a record high, per the report.
• Similar to recent years, roughly two-thirds of public board seats were filled by people aged 50-65. The average age of new appointees last year was 57.
• The share of Black directors held relatively steady at 26% in 2021 after a “sharp uptick” the previous year; 9% of new public directors were Asian, and 6% were Hispanic.

🇺🇸 The big picture: Last month, a California judge struck down a law requiring publicly-held companies HQ’d in the state to have at least one minority member on their board, declaring it unconstitutional. 

• On a broader level, the SEC has approved a Nasdaq rule, set to go in effect this year, requiring companies listed on its exchange to disclose the ethnic and gender makeup of their boards. They're also required to have at least two “diverse” members – or explain why they don’t.

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