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By Maria Moats and Paul DeNicola

Three years ago, PwC reported some good news from our 2018 Annual Corporate Directors Survey: The vast majority of public company directors said that they recognized the value of including more women and people of color in the boardroom. And this trend has been reflected in new regulatory initiatives, as more and more states have begun implementing or contemplating legislation to mandate increased board diversity.

Despite this progress, however, change remains slow. A fall 2020 analysis of the 3,000 largest publicly traded U.S. companies found that just 12.5% of board directors were from underrepresented ethnic and racial groups,

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