More than a dozen chief executives last year sought the Ford Foundation’s help in reacting to protests after the death of George Floyd; lack of diversity in upper management left them with few resources that they could call upon for advice. 29.6% of companies on the S&P 500 still lack at least one Black board member; currently there are 5 Black CEOs in the Fortune 500, with Ken Frazier’s retirement next month from Merck, it will decrease to four. Many corporations promised to boost diversity, but progress is still slow and will likely take years, experts predict. General Motors initiated an “inclusion advisory board” that meets four times a year; Facebook set a five-year goal to increase Black leaders by 30%; Starbucks hired former Attorney General to conduct a civil rights assessment; and Microsoft began linking diversity hiring to executive bonus compensation.
See "Corporate America still struggles with diversity one year after George Floyd’s death", David Gura, NPR, May 28, 2021