Corporations large and small expressed their outrage, dismay, and horror at the killing of George Floyd, and pledged to fund black organizations, charities, diversity training and more. But Twitter users soon cut to the heart of the matter: 'Thanks for pledging but let's see a photo of your board of directors.'
The point is backed up by statistics that reveal the truth most Americans already know: Corporations are largely run and directed by those who are "male and pale." In a 2018 report, for example, the total number of board seats for Fortune 500 companies was 5,670 — but only 651 board seats were held by minority men and 261 board seats were held by minority women. The breakdown by race looked like this:
- 83.9% or 4,758 seats held by Caucasian/White board members
- 8.6% or 486 seats held by African American/Black board members
- 3.8% or 213 held by Hispanic/Lantino(a) board members
- 3.7% or 209 held by Asian/Pacific Islander board members
- 0.1% or 4 held by "other"
The report noted that the percentage of seats held by minorities in 2018, though small, had increased and revealed "more growth in representation between 2016 and 2018 (1.7 percent) than between 2012 and 2016 (1.1 percent) — which was twice as many years."
This is not to say that companies aren't serious in their declarations of support against racism and racial inequality. But what those on social media were pointing out was that actions that dig at the roots of systemic racism are as or even more important than short-term donations and expressions of outrage. Walk your talk, companies were being told.
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