The Millennials are Coming, but Not To a Corporate Boardroom Near You

Make no mistake, the invasion of the Millennials is upon us. From actor and comedian Aziz Ansari to tech tycoon and philanthropist Mark Zuckerberg, Millennials have made an indelible mark on American society and the world. According to Pew Research Center analysis of U.S. Census Bureau data, more than one third of all American workers are Millennials and in the first quarter of 2015, Millennials surpassed Generation X to represent the largest share of the U.S. labor force. And the rise of Millennials is not just limited to the United States – it is estimated that Millennials will make up 50% of the global workforce by 2050. Despite their overwhelming numbers in the U.S. workforce, Millennials are virtually nowhere to be found in America’s corporate boardrooms with a few notable exceptions, such as Clara Shih, a non-executive director at Starbucks. According to the Spencer Stuart Board Index, the median age of directors at S&P 500 companies was 63 years in 2013. The 2014 Boards Practices Report, published by the Society of Corporate Secretaries and Governance Professionals in collaboration with Deloitte LLP’s Center for Corporate Governance, found that the “youngest” directors on public company boards tended to be over 50 years of age.

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