When former American Express CEO Kenneth Chenault left the board of Facebook and was nominated to Berkshire Hathaway’s board, he became the first African American director recruited to Warren Buffett’s iconic conglomerate.
That means Berkshire’s name will no longer appear on Black Enterprise’s annual list of S&P 500 companies that have yet to elect a single Black board member.
Last year, the magazine named nearly 200 companies in this category, so Berkshire was hardly alone with its diversity problem. But Buffett’s firm dwarfed the others in market cap ($440 billion) and influence. Arguably, it could and should have done better long before this year. The same goes for IBM, Mondelez, and Allergan, all of which appeared on the 2019 list, but also recently filled board seats with Black candidates.
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