We’re not saying boards remaining American is a bad thing but when you look at data from companies thriving on international revenue, lack of diversity on their boards could eventually hurt them in the end.
According to The Wall Street Journal, executive search firm Egon Zehnder released data that only 7.2 percent of corporate directors on the S&P 500 index are foreign nationals. This is a microscopic advancement by .6 percentage points since 2008.
Here’s the thing: International revenue comprises 37 percent of the S&P 500 overall revenue from last year alone! This increase represents 5.5 percentage points since 2008. Almost 75 percent of these businesses have money coming in from global sources.
Wait, it gets worse. One out of 10 directors is a foreign national at the top 100 businesses where more than half of their venue comes from outside America. (This reminds us of data showcasing the significant percentage of women in the workplace contrasted to the tiny number of women in the C-Suite. Just saying. Le sigh.)
The main lesson learned from this data? Global perspectives are necessary in the boardroom especially when companies are doing significant amounts of business around the world.