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Expand chart
Data: Deloitte and the Alliance for Board Diversity; Chart: Will Chase/Axios

Corporate boards are getting less white and male, but companies are "recycling" to achieve the feat — i.e., tapping a limited circle of executives of color to fill open slots.

Why it matters: In some cases, more diversity came "by recycling ... existing Fortune 500 board members rather than bringing in new individuals with different skills, backgrounds, and perspectives," according to a report out Tuesday by Deloitte and the Alliance for Board Diversity.

  • Roughly 36% of board seats held by people of color were occupied by executives on several boards last year. That doesn't account for involvement on boards outside the Fortune 500.
  • Two out of every five Black board members belong to several boards.
  • Hispanic/Latina women serve on roughly 1.3 Fortune 500 boards. Compare that to white men, who serve on an average of 1.1.

Sober stat: No Fortune 500 corporate boards are representative of U.S. demographics.

See the report.

Go deeper

Gaming giant pivots on CEO bonus targets

Ubisoft CEO Yves Guillemot. Photo: Patrick T. Fallon/Bloomberg via Getty Images

"Assassin's Creed" and "Rainbow Six" mega publisher Ubisoft is no longer offering its CEO new bonuses for increasing the gender diversity of its workforce, a year after establishing that as a long-term pay incentive.

Driving the news: New long-term targets for this year replace that goal with one tied to reducing the company’s carbon footprint, according to corporate filings.

Drought pushes 2 major U.S. lakes to historic lows

Kayakers at a boat launch ramp Page, Arizona, on July 3, which was made unusable by record low water levels at Lake Powell as the drought continues to worsen near. Photo: David McNew/Getty Images

Two significant U.S. lakes, one of which is a major reservoir, are experiencing historic lows amid a drought that scientists have linked to climate change.

What's happening: Lake Powell, the second largest reservoir in the U.S., has fallen 3,554 feet in elevation, leaving the crucial reservoir on the Colorado River, at 33% capacity — the lowest since it was filled over half a century ago, new U.S. Bureau of Reclamation data shows.

Updated 1 hour ago - World

North and South Korea restart hotline and pledge to improve ties

South Korean President Moon Jae-in and North Korean leader Kim Jong Un in Pyongyang, North Korea, in 2018. Photo: Pyeongyang Press Corps/Pool/Getty Images

North and South Korea's leaders have pledged to improve relations and resume previously suspended communication channels between the two countries.

Why it matters: The resumption of the hotline on Tuesday comes despite stalled negotiations between Washington and Pyongyang on the denuclearization of North Korea, which broke down after a second summit between then-President Trump and North Korean leader Kim Jong-un ended without a deal in 2019.