Some of the largest companies in the U.S. are failing to develop thoughtful general counsel succession plans and are holding diverse candidates to a higher bar than their white male counterparts must clear, according to a new report from management consulting firm Russell Reynolds Associates.
Diversity progress at the GC level for Fortune 500 companies has been relatively glacial in recent years. Gender and ethnic diversity for GC appointments averaged 42% and 20% from 2017 to 2020, respectively. In 2020, 45% of the GC hires were women, and 22% were ethnically diverse, according to RRA’s report.
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