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African American representation on Fortune 1000 boards: 2023 Edition

The third study by KPMG and the African American Directors Forum examining African American representation on Fortune 1000 boards.

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African American representation on Fortune 1000 boards: 2023 Edition marks the third study by the KPMG Board Leadership Center and the African American Directors Forum (AADF) examining trends in board service, gender, age, committee service, and tenure of African American directors, as well as their prevalence by industry and state of corporate headquarters.

African American directors were identified by AADF, through publicly available disclosures, Equilar’s BoardEdge platform, and the KPMG Board Diversity Disclosure Benchmarking Tool, powered by ESGAUGE. Data on public Fortune 1000 company boards and directors were provided by Equilar.

Among the key findings:

  • The African American presence in public Fortune 1000 boardrooms measured 11 percent in 2023, up from 8 percent in 2020, the first year of this study.
  • The percentage of public Fortune 1000 boards with at least one African American director was 76 percent in 2023, unchanged from 2022.
  • Among the African American directors serving public Fortune 1000 boards, 40 percent are women compared to 30 percent of all public Fortune 1000 directors.
  • Two-thirds of the African American directors studied have served on their boards for less than five years.
  • Twenty-two public Fortune 1000 companies have a board chair who is African American. 

Number of African American directors on public Fortune 1000 boards
n=915 companies

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African American representation on Fortune 1000 boards: 2023 Edition

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