The Policies Are Nearly Gone. The Boards Aren’t. Yet. Bloomberg reported this week that 61 S&P 100 companies have eliminated explicit diversity criteria for director searches since 2023. We land in the same place. We’re just far pickier about what counted as … Read More
board of directors
The Replacement Effect Is Over
Last week we looked at what companies are telling investors about board and workforce diversity. The conclusion was blunt: disclosure is disappearing. Quantitative board demographic disclosure has collapsed over the past two years, workforce disclosures are retreating, and metrics investors relied on … Read More
Proxy Season Update: Board disclosure is disappearing—40% report nothing
Nearly a quarter of the Russell 3000 has now filed, and the shift is clear: board-level disclosure is continuing to pull back—both in depth and consistency. Our board transparency score—which measures the share of demographic characteristics companies disclose—previously included LGBTQ+ … Read More
2026 Proxy Season Kickoff: Board Diversity Stalls and Disclosure Fades
Proxy season is starting to ramp up. More than 100 proxy statements have already been filed this week, with another ~200 expected next week. By April, filing volume typically accelerates to 300–400 per week. I just returned from the Council … Read More
Board Diversity, Schrödinger’s DEI, and Accidental Transparency
If you were looking for a clean narrative arc in corporate America’s relationship with board diversity, I regret to inform you that you will instead be getting litigation, proxy fine print, and a small activist nonprofit with a very busy … Read More
People Still Matter and Boards Are Getting Older
People Still Matter Two recent stories—one about a 175-year-old industrial company, the other about a century-old technology giant—push back against the idea that AI diminishes the importance of people. Betting on People in the Age of AI According to Bloomberg, … Read More
Board Diversity Continues to Plateau
A new USA Today story highlights what many have suspected: the push to diversify corporate boards is losing steam. According to ISS-Corporate, women accounted for just one-third of new S&P 500 board seats in 2025, down sharply from a high of 44% in 2022. … Read More