{"id":18660,"date":"2026-08-11T15:35:48","date_gmt":"2026-08-11T15:35:48","guid":{"rendered":"https:\/\/topat10.com\/?p=18660"},"modified":"2026-08-11T15:35:48","modified_gmt":"2026-08-11T15:35:48","slug":"almost-all-top-u-s-companies-had-board-diversity-rules-now-most-are-gone","status":"publish","type":"post","link":"https:\/\/topat10.com\/?p=18660","title":{"rendered":"Almost all top U.S. companies had board diversity rules. Now most are gone"},"content":{"rendered":"\n

Three years ago, nearly every major US company explicitly considered diversity when choosing new directors. Now, most don\u2019t.<\/p>\n

\n

In all, 61\u00a0S&P 100 companies have dumped explicit\u00a0diversity criteria for future board members\u00a0since 2023, according to an ESGAUGE analysis of filings and governance documents for Bloomberg News<\/a>. The findings show the extent of the\u00a0retreat from diversity, equity and inclusion\u00a0into corporate boardrooms.<\/p>\n

Apple<\/a> Inc., Alphabet<\/a> Inc., Amazon<\/a>.com Inc., Starbucks<\/a> Corp. and Wells Fargo<\/a> & Co.\u00a0have all eliminated diversity provisions for directors in the last three years. A conservative activist investor had\u00a0previously identified<\/a>\u00a0companies including Goldman Sachs<\/a> Group Inc., American Express<\/a> Co., Johnson & Johnson and Deere<\/a> & Co. as having dropped such criteria, but the new data provide a broader picture of the shift.<\/p>\n

\u201cIt\u2019s always easier to tear something down than it is to build it up,\u201d said Heather Spilsbury, chief executive officer of 50\/50 Women on Boards, which advocates for gender parity in the boardroom.<\/p>\n

The pullback began in 2023 and accelerated over the past year as the Trump administration moved to dismantle DEI programs across federal agencies, universities and government contractors. ESGAUGE, which analyzes corporate filings,\u00a0identified companies that had explicitly referenced gender, race, ethnicity, minorities or underrepresented groups in board-selection criteria and then tracked which had removed that language.<\/p>\n

Six companies \u2014 Advanced Micro Devices Inc., Capital One<\/a> Financial Corp., Microsoft<\/a> Corp., Starbucks, Uber<\/a> Technologies Inc. and Wells Fargo\u00a0\u2014 went even further, adopting similar diversity criteria for CEO succession. All but Microsoft have since removed that language, according to ESGAUGE. Starbucks and Wells Fargo also dropped diversity criteria for new directors.<\/p>\n

Starbucks nixed language saying it would require \u201ccandidates who reflect diverse backgrounds, including, but not limited to, diversity of race, ethnicity, national origin, gender, and sexual orientation\u201d to be included in its roster of potential CEO candidates. AMD<\/a> has scrapped its pledge to \u201cinclude qualified female and racially\/ethnically diverse candidates\u201d in its CEO pool, though it still has diversity criteria for board directors.<\/p>\n

The share of companies with Rooney Rule-like provisions \u2014 the US National Football League\u2019s policy that\u00a0teams must consider at least one Black coach for open jobs \u2014 has also fallen sharply in the past year, to 12% from 58%, said George Anderson, who co-leads the North American board advisory practice at executive recruiter Spencer Stuart.<\/p>\n

Not all companies have scrubbed diversity commitments. Microsoft is still singling out \u201chighly qualified women and individuals from minority groups\u201d for any future\u00a0CEO searches. Uber and Capital One are also among the more than 30 companies that still have diversity criteria for directors, the data show.<\/p>\n

Microsoft, Alphabet, Amazon, AMD, Uber, Starbucks and Wells Fargo declined to comment. Apple and Capital One did not respond to requests for comment.<\/p>\n

The goal is to eliminate DEI policies that can introduce bias, said Paul Chesser, director of the Corporate Integrity Project at the conservative National Legal and Policy Center, who has engaged with American Express, Deere and other companies on the issue. Boards should still seek out Black and female candidates, he said, but without explicit criteria or pay incentives that could lead one group to receive less consideration than another.<\/p>\n

At the same time, companies navigating economic uncertainty are increasingly turning to former CEOs for board seats \u2014 a pool still dominated by White men. Former CEOs accounted for 37% of new directors at S&P 500 companies this year, the highest share since a 42% peak in 2012, according to Spencer Stuart. Women, meanwhile, made up 29% of new directors, down from 46% in 2023.<\/p>\n

\u201cThe overall opportunities that are even available and visible to women have gone down,\u201d particularly over the past year, said Teresa Kong, who is a director at Impax Funds, which promotes investments in sustainability, and a member of several groups that advocate\u00a0for women on boards. Kong, who was named one of 50 \u201cboard-ready\u201d women by 50\/50 Women on Boards in 2024, has yet to land a seat on a public company board.<\/p>\n

Yet she\u2019s still encouraged by the fact that boardrooms are\u00a0more diverse now that they were\u00a0five years ago. \u201cThe seed\u2019s been planted. Sometimes you have to wait until spring comes around.\u201d<\/p>\n

To contact the authors of this story:
Jeff Green\u00a0in\u00a0Southfield\u00a0at\u00a0jgreen16@bloomberg.net<\/a>
Daniela Sirtori\u00a0in\u00a0Chicago\u00a0at\u00a0dsirtoricort@bloomberg.net<\/a><\/p>\n<\/div>\n\n","protected":false},"excerpt":{"rendered":"

Three years ago, nearly every major US company explicitly considered diversity when choosing new directors. Now, most don\u2019t. In all, 61\u00a0S&P 100 companies have dumped explicit\u00a0diversity criteria for future board members\u00a0since 2023, according to an ESGAUGE analysis of filings and governance documents for Bloomberg News. The findings show the extent of the\u00a0retreat from diversity, equity […]<\/p>\n","protected":false},"author":1014,"featured_media":18661,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_uag_custom_page_level_css":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[123],"tags":[],"class_list":["post-18660","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"yoast_head":"\nAlmost all top U.S. companies had board diversity rules. 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