The Association of LGBTQ+ Corporate Directors, our U.S. sister organization, has released its annual report analyzing the LGBTQ+ representation in Fortune 500 Company Boards.
As of 2024, 47 board seats—out of over 5,400 available (Fortune estimate)—are occupied by LGBTQ+ individuals, representing 0.9% of all board seats. This slightly improved compared to the 0.74% we reported in 2023. While some new appointments have nudged the needle forward, the real change comes from better information on who is LGBTQ+ in the boardroom.
Gender Split: Women represent a significant share, occupying 60% of the LGBTQ+ board seats. This is much better than the Fortune 500 demographics, where women hold 30% of board seats. As of September 2024, there remains no known trans or non-binary representation on Fortune 500 boards.
Race: 57% of the LGBTQ+ seats are occupied by white/Caucasian men and women, with the rest occupied by racially diverse candidates. This is greater diversity than the overall demographics of the Fortune 500, where 77.8% of seats are occupied by white Board members, showing the power of intersectionality in LGBTQ+ talent.
Industry Breakdown: Most LGBTQ+ directors work in industries such as technology, financial services, and healthcare, with notable representation in retail.
Background: 38% of these seats are occupied by financial specialists.
Geography: As in previous years, LGBTQ+ representation is concentrated in New York and California, with over 40% of seats held in these states.
Average Age: The average age of these board members is 60, indicating that, like much of corporate America, LGBTQ+ representation remains skewed towards those later in their careers.
Tenure: The average tenure for LGBTQ+ board members is about 6.5 years, a little lower than the wider Fortune 500 board population.
Educational Background: Most LGBTQ+ board members hold degrees from prestigious institutions like Harvard, Stanford, and MIT.
The report includes a section highlighting the work of The LGBTQ+ Corporate Directors Canada Association and the Australian LGBTQ+ Board & Executive Inclusion (ALBEI)
Thank you to Fabrice Houdart, President and his team for producing such an informative report. The results confirm the need for continuing advocacy on the issue and remain a call to action.
Read the complete Report HERE.