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Businesses with more diverse boards came out on top during the pandemic

Data: BoardReady; Chart: Connor Rothschild/Axios

There's a fresh data pointon how corporate America fared during the pandemic year. Businesses with more diverse boards came out on top, according to data provided first to Axios by BoardReady, a nonprofit.

Why it matters: It adds to a ballooning body of research that shows that generally better business comes alongside boardrooms that are less old, male and white.


To be clear, the data doesn't prove companies did better because their boards were more diverse — there is a slew of other factors that play a role.

What they're saying: "There isn't enough data yet to show causation, but there's strong correlation," says Deanna Oppenheimer, founder of BoardReady.

By the numbers: As a cohort, the companies with more women on their boards saw the smallest year-over-year drop in revenue growth in 2020.

  • And a group of companies with board members whose ages spanned over 30 years saw an improvement in revenue growth compared to the prior year. The rest saw growth slow.
  • The businesses with at least 30% of seats filled by non-white executives saw a bigger jump in revenue growth. However, those that had between 20% and 30% non-white board executives fared worse than those with fewer non-white members.
  • BoardReady cautions that this data might be skewed because so few companies have enough non-white executives on their boards to meet that threshold.

What to watch: The data comes as there's a sea change of sorts in corporate America. Legislators, regulators and the Nasdaq are eyeing the makeup of corporations' top decision-makers — and pushing them to step it up on diversity.

  • "People used to ask the question: 'Why diversify?' The debate has now moved on from why to how," says Oppenheimer.

Where it stands: The numbers are improving, though still dismal.

Worth noting: BoardReady used revenue as a yardstick — rather than say, profits or EBITDA — to avoid the data being distorted by any adjustments companies made during the pandemic, the study says.

Go deeper: Read the report

What to watch at the Olympics today: Gymnastics, golf, 3x3 basketball, swimming

5 events to watch today...

  • 🤸‍♀️ Men’s gymnastics: Team USA’s Sam Mikulak and Brody Malone compete in the individual all-around final. Coverage starts at 6:15 a.m. on Peacock (watch the replay at 8 p.m. ET on NBC)
  • 🏀 3x3 Basketball: The women’s gold medal game between the U.S. and Russia starts at 8:55 a.m. ET on USA Network. Russia and Latvia will play in the men’s final at 9:25 a.m. ET.
  • 🏌️ Men’s golf: Round one tees off at 6:30 p.m. ET on the Golf Channel or stream on nbcolympics.com.
  • 🏊 Swimming: Men’s 800m freestyle, 200m breaststroke and 100m freestyle finals and women’s 200m butterfly final. Coverage starts at 9:30 p.m. on NBC.
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Data: National Park Service; note: Gateway National Recreation Area is excluded due to missing data in 2021. Chart: Connor Rothschild/Axios

National Parks across the U.S. are overflowing with a post-pandemic crush of tourists, leading to increased issues with congestion, traffic jams, user experience, strain on staff and increased damage to the parks.

Why it matters: Some are seeing such a record number they're being forced to limit, and even close, access to certain areas to avoid the danger of eroding the land. The result, ultimately, could change the way Americans interact with the parks going forward.

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Facebook's "next chapter," Mark Zuckerberg says, is to be prime builder of "the metaverse" — an open, broadly distributed, 3D dimension online where, he says, we will all conduct much of our work and personal lives.

The big picture: Zuckerberg admits Facebook will only be one of many companies building this next-generation model of today's internet — but he also intends Facebook to lead the pack.

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CDC asks the vaccinated to help save the unvaccinated from themselves

The Biden administration is essentially asking vaccinated Americans to help save the unvaccinated from themselves.

The big picture: America's "pandemic of the unvaccinated" has gotten bad enough that vaccine mandates are starting to catch on, and masks are coming back — in some cases, even for the vaccinated.

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Least persuadable unvaccinated Americans are largely white and Republican

Data: Axios-Ipsos Poll; Chart: Sara Wise/Axios

The most hardcore opponents of coronavirus vaccination — the group who say they'll never get one — tend to be older, whiter and more Republican than the unvaccinated Americans who are still persuadable, according to an analysis of our Axios/Ipsos Coronavirus Index.

Why it matters: As the Delta variant triggers more COVID-19 hospitalizations and deaths, mostly among the unvaccinated, the Biden administration and even some high-profile GOP political and media figures are trying to figure out how to nudge the country's vaccination rate higher.

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Female Olympians push back against double standard in uniforms

Female Olympians in Tokyo are rejecting the uniforms that have long defined their sports, highlighting a double standard that exists how women dress in competition vs. men.

Driving the news: During their qualifying round Sunday, Germany's women's gymnastics team wore full-length unitards, eschewing the conventional leg-barring leotards worn by most female gymnasts.

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Simone Biles won't defend Olympic title at gymnastics all-around final in Tokyo

U.S. gymnastics great Simone Biles won't defend her Olympic title in the upcoming all-around final as she continues to focus on her mental health, USA Gymnastics announced Wednesday.

After further medical evaluation, Simone Biles has withdrawn from the final individual all-around competition. We wholeheartedly support Simone’s decision and applaud her bravery in prioritizing her well-being. Her courage shows, yet again, why she is a role model for so many. pic.twitter.com/6ILdtSQF7o

— USA Gymnastics (@USAGym) July 28, 2021

Editor's note: This a breaking news story. Please check back for updates.

DOJ declines to defend Mo Brooks in Eric Swalwell's Capitol riot lawsuit

The Department of Justice declined late Tuesday to represent Rep. Mo Brooks in a civil lawsuit against the Georgia congressman concerning the Capitol riot.

Why it matters: Brooks had argued he should have immunity in the suit, filed by Rep. Eric Swalwell (D-Calif.) against him, former President Trump, his son Donald Trump Jr. and lawyer Rudy Giuliani over the insurrection. He said he was acting as a government employee when he spoke at a rally before the insurrection.

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