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S&P 500 Boards Have 100 Seats Open to Add Diverse Candidates

  • Proxy season means lots of turnover in the director ranks
  • Women gained share in May as more men than women left boards
RF board room Conference office work
Photographer: Peshkova/iStockphoto

The boards of Mondelez International Inc. and Fiserv Inc. shrank by three directors in May. At CVS Health Corp., there were two fewer directors -- adding to the almost 100 board members at S&P 500 companies who weren’t replaced last month.

Company annual meetings have always been a time for director retirements and departures, but with older directors more likely to be White men, the spring cleaning is giving a bump to board diversity. That’s why even though women held 11 fewer seats in May than the month before, their share rose to 32% from 31%, according to data compiled by Bloomberg.