60% Of Fortune 500 Companies Have “Chief Diversity Officers” — Are They Doing Anything?
3:28 pm, January 5th | by Hillary Reinsberg
In fact, a whole 60 percent of Fortune 500 companies have an executive dedicated to diversity, The Wall Street Journal says. Many of these people are referred to as “Chief Diversity Officers.” Of these so-called CDOs, 65 percent are female, while 37 percent are African-American (and some are presumably African-American women).
And they’re not just placeholder positions to create a veneer of diversity. With the “chief” title, many CDOs make as much as other C-level execs like Chief Marketing or Chief Technical Officers. And some have multi-million dollar budgets.
This all sounds great, but are these CDOs really doing anything? As far as diversity statistics in exec-level positions show, they’re not doing enough.