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Changing Board Diversity Commitments in the S&P 500: A 2025 Update

Board diversity continues to be a focal point for corporate governance, yet new data shows shifting commitments among S&P 500 companies. Using MyLogIQ’s CompanyIQ® SEC research tool, we analyzed the latest disclosures to track how diversity, equity, and inclusion (DEI) policies are evolving at the board level.

A Pullback in Formal Diversity Commitments

Three months into the current administration, which has sought to curb DEI hiring practices, there has been a slight pullback in companies’ formal commitments to director diversity. This trend raises questions about how corporate America will balance regulatory and social pressures going forward.

Diversity Guidelines in Corporate Governance

The majority of S&P 500 companies continue to embed diversity language into their governance guidelines. In 2024:

  • 423 companies maintained board diversity guidelines.
  • Only a handful reported no formal policy, underscoring that diversity remains an expectation in modern governance.

The “Rooney Rule” and Board Appointments

The Rooney Rule, originally designed for the NFL, has been adapted in corporate boardrooms as a pledge to consider gender and racially/ethnically diverse candidates. CompanyIQ® data reveals:

  • 22 companies had adopted the Rooney Rule in 2022.
  • The number peaked at 30 companies in 2023, before dropping to 26 companies in 2024.

This dip reflects the broader uncertainty around DEI commitments, even as stakeholders demand more transparency and accountability.

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