Corporate Pushback Against Trump’s Rollback
For the First Time, White Male Directors Fall Below Half in Fortune 500
Surge in Black Women and Asian American Directors Signals a New Era for U.S. Companies
"Diversity, Equity, and Inclusion (DEI)" is a key concept for understanding contemporary American society. Diversity refers to the idea that people from a variety of backgrounds?such as race, gender, origin, and sexual orientation?should be able to participate equally in society.
Despite being a multi-ethnic nation, the social structure of the United States is still centered around white men. As a result, Black people, Asian Americans, Hispanics, women, and others have historically faced discrimination. To address these inequalities, DEI policies and affirmative action have been institutionally implemented.
In particular, following the killing of George Floyd, a Black man, by a white police officer in 2020, major U.S. corporations rushed to issue statements supporting racial justice. They also pledged to expand diversity and inclusion within their organizations. Global companies such as Microsoft, IBM, and Johnson & Johnson presented concrete action plans, including expanding minority hiring, diversifying supply chains, and strengthening support for human rights organizations, along with quantifiable targets. Wall Street financial institutions also announced plans to increase lending to minority-owned businesses and to create diversity funds.
That same year, the state of California introduced even more radical measures. It passed a law requiring boards of listed companies above a certain size to include at least one member from a racial minority or the LGBTQ+ community. This was the first time in the United States that board diversity was mandated by law. Although this law was invalidated by a court ruling in 2022, it served as a symbolic example that diversity had become a serious agenda item in American corporate culture.
However, over time, backlash intensified. In 2023, the U.S. Supreme Court ruled affirmative action in college admissions unconstitutional. Subsequently, in 2025, President Trump abolished DEI programs across the federal government and ordered investigations into DEI policies in private companies. As a result, even major IT companies such as Meta (formerly Facebook) and Google have begun to withdraw or scale back their DEI initiatives.
Surprisingly, despite this political backlash, the boards of major U.S. corporations continue to become gradually more diverse. An analysis of the boards of the top 50 Fortune 500 companies found that, as of the end of 2024, the proportion of white male directors had fallen below half for the first time, to 48.4%. The number of Black women, Asian American, and Hispanic directors continues to rise, and CEOs are increasingly coming from diverse backgrounds. In the case of global companies, a significant number of CEOs and board members are already non-U.S. nationals, and this has become an essential strategy for competing in the global market.
However, due to political attacks on DEI and worsening public opinion, the sustainability of these changes is uncertain. Diversity experts are concerned that corporate DEI policies may be scaled back in response to shifts in the political environment. Some companies have already reduced or eliminated diversity-related positions, and there are signs that consideration of diversity in hiring processes is being restricted.
In South Korea, the concept of "diversity" may still feel unfamiliar. However, in American society, diversity is seen not just as a matter of consideration for others or a moral value, but as a strategic asset that enhances economic benefits and competitiveness. People from diverse backgrounds bring different perspectives, which helps organizations understand the needs of various customer groups and drives technological innovation.
In fact, research shows that organizations with high levels of diversity have greater profitability, creativity, and employee satisfaction. For this reason, DEI has become a core component of American corporate competitiveness, going beyond "political correctness." An organizational culture that values diversity is not merely about short-term gains or image management, but is a long-term survival strategy.
The abolition of DEI and the rollback of affirmative action by the Trump administration is not just a policy change. It has reignited deep-seated divisions within American society?namely, who should be given opportunities and who should be recognized as a true American. This conflict is expected to have profound effects on the U.S. economy and society as a whole in the future.
Diversity is not about avoiding conflict, but about recognizing the existence of those who are different and seeking new possibilities within those differences. The United States now stands at a crossroads: will it uphold the principles of equitable opportunity and national identity, or abandon them?
Seo Boyoung, Professor at Indiana State University
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