An article by The New York Times describes what they believe is the missing piece in the push for boardroom diversity.
Last summer, major public companies across the country pledged to increase diversity in their boardrooms, one of the actions taken after the murder of George Floyd in police custody. Corporate directors set goals, and some have begun to make progress, with investors, activists and others tracking their commitments on racial equity. But conspicuously absent is a discussion of diversity efforts at privately held companies. There are far more of them than publicly traded firms: Of more than 30 million businesses in the United States, less than 1 percent are listed on a stock exchange. The most successful private companies often become tomorrow’s biggest public companies — and biggest employers.