Black Executives on the Rise in Corporate America—Until the DEI Backlash Hit
In the wake of the DEI (Diversity, Equity, and Inclusion) backlash, America’s largest companies have seen a decline in the number of Black executives, reversing gains made after 2020. Once heralded as a turning point for racial equality in the workplace, the post-George Floyd era saw an increase in leadership representation for Black professionals. However, corporate America is now retreating from these commitments, driven by shifting political winds and legal challenges.
This rollback is part of a larger trend in which major corporations are distancing themselves from diversity programs to avoid political scrutiny. According to Daniel Kinderman, a political science professor at the University of Delaware, the shift reflects corporate America’s adaptation to an administration that is actively dismantling DEI programs in the private sector.
Between 2020 and 2022, the number of Black executives in S&P 100 companies increased by nearly 27%, according to workforce demographics compiled by the federal government and analyzed by research firm DiversIQ. This progress resulted from corporate diversity commitments, leadership training, and inclusive hiring practices. However, 2023 saw a 3% decline in the number of Black executives—twice the rate at which white executives exited leadership positions.
The disparity highlights how essential corporate diversity efforts were in bridging representation gaps. Joelle Emerson, CEO of Paradigm Strategy, emphasizes that when companies establish fair hiring and promotion processes, they create meritocratic workplaces where underrepresented groups can thrive. However, when these efforts are abandoned, companies regress to previous inequities.
Despite initial progress, Black executives remain significantly underrepresented in corporate leadership. USA TODAY’s analysis of Equal Employment Opportunity Commission (EEOC) data reveals that Black professionals are still outnumbered 12 to 1 by white executives in the nation’s top companies.
In 2020, Black men held only 2.8% of executive positions, while Black women held 2%. By 2023, those figures had increased slightly to 3.2% and 2.5%, respectively. However, these modest gains were not enough to reshape the leadership landscape, where white men continue to dominate nearly 50% of executive positions and white women occupy another 25%.
“The progress made was incremental, not transformational,” says David Glasgow, executive director of the Meltzer Center for Diversity, Inclusion and Belonging at NYU Law. “White men still disproportionately hold power, and the recent DEI backlash threatens to undo even these small gains.”
Former President Donald Trump and other conservative figures have actively campaigned against DEI programs, arguing that these initiatives unfairly prioritize diversity over merit-based hiring. On the campaign trail, Trump pledged to eliminate DEI hiring policies, claiming they result in job losses for more qualified candidates.
Shortly after taking office, Trump signed executive orders dismantling DEI efforts in federal agencies and private sector contracting. His administration also directed federal agencies to investigate companies that prioritized diversity in hiring. Attorney General Pam Bondi later vowed to prosecute what she called “discriminatory DEI practitioners.”
Trump has continued this pressure on corporations, recently calling on Apple to eliminate its diversity hiring policies, arguing that such programs harm business efficiency. Apple CEO Tim Cook responded by clarifying that the company does not enforce hiring quotas but is open to adjusting its approach.
As companies navigate this political climate, they are divided into two camps—those that “duck” and those that “double down.”
Barry Lawson Williams, a retired investment consultant and corporate board member, warns that abandoning DEI efforts could discourage talented Black professionals from remaining in corporate leadership roles. “Without strong encouragement and support structures, Black executives will continue to leave large firms, undoing decades of hard-fought gains,” Williams explains.
Flash News America’s analysis found that nearly one in four S&P 100 companies experienced a decline in the number of Black executives between 2020 and 2023. Some of these losses occurred due to broader restructuring, but others reflected a disproportionate impact on Black leaders.
Six major companies, including Mondelez International, Kraft Heinz, The Bank of New York Mellon, and Costco, had just one Black executive in 2023. Broadcom had none.
As corporate America reassesses its approach to DEI initiatives, the future of Black executives remains uncertain. While some organizations remain committed to diversity, others are rolling back their programs to align with political shifts.
Diversity advocates caution that without sustained commitment, the workplace will become even less inclusive, with fewer Black executives reaching leadership positions.
“There has to be a strong commitment to retaining and advancing Black professionals in corporate leadership,” Williams urges. “Otherwise, we risk losing the progress made in recent years.”
With mounting pressure from political forces and corporate stakeholders, the battle over corporate diversity is far from over. The coming years will determine whether Black executives continue to rise—or whether America’s largest companies retreat further from their diversity commitments.
