Author: sHq_LoGiNz

PALM SPRINGS, Calif., Nov. 17, 2025 /PRNewswire/ — Ernst & Young LLP (EY US) announced that Jitendra Mohan, Co-Founder, CEO; Sanjay Gajendra, Co-Founder, President & COO; and Casey Morrison, Co-Founder, Chief Product Officer, of Astera Labs, a global leader in purpose-built connectivity solutions for enterprise AI, have been named the Entrepreneur Of The Year^® 2025 National Overall Award winners.

For 40 years, the Entrepreneur Of The Year program has celebrated ambitious entrepreneurs who are transforming industries, impacting communities and creating long-term value. Mohan, Gajendra and Morrison were chosen by an independent panel of judges from a group of 221 Entrepreneur Of The Year regional winners, representing 191 companies across the US. Astera Labs’ solutions are at the core of how today’s data centers support the explosive growth of AI.

“Entrepreneur Of The Year has celebrated the bold leaders who redefine what’s possible for more than four decades. This program honors the many ways entrepreneurs drive our economy — through ingenuity, courage and an unwavering spirit of innovation,” said Andrew (AJ) Jordan, EY Americas Entrepreneur Of The Year Co-Director. “This year’s winners — Jitendra, Sanjay and Casey — embody that spirit. Their breakthroughs in connectivity let data centers across six countries talk to each other at lightning speed, boosting reliability and performance and redefining intelligent infrastructure. We are honored to celebrate them as the Entrepreneur Of The Year 2025 National Overall Award winners.”

The Astera Labs cofounders recognized a tremendous gap in the market for connectivity solutions to support the growing demands of AI workloads. They embarked on a venture that enables the expanding AI ecosystem’s nervous system to scale and use computer resources more efficiently. While most startups have focused on developing AI accelerators, Astera has addressed the unique challenges encountered by hyperscalers and large-scale cloud service providers.

Since 2017, Astera Labs has offered hardware with embedded software that improves data center observability, enabling predictive analytics for proactive maintenance, resource optimization and enhanced performance. Their commitment to research and development, innovation and cultivating a collaborative workforce — now nearly 500 strong — has been central to their continued success.

“Today’s environment rewards entrepreneurs who can innovate at speed and scale. Astera Labs’ founders have done exactly that, developing purpose-built silicon and software solutions for the world’s leading data centers,” said Anna Horndahl, EY Americas Entrepreneur Of The Year Co-Director. “Their talent strategy, smart market expansion and strong execution make them standout winners in a pivotal moment for AI.”

In addition to Mohan, Gajendra and Morrison, EY US recognized 10 other exceptional Entrepreneur Of The Year 2025 National Award winners from nine companies:

• John V. Oyler, Co-founder and Chairman and CEO, BeOne Medicines, Cambridge, Massachusetts
• Kate Haviland, CEO, Blueprint Medicines, Cambridge, Massachusetts
• Don Wenner, Founder and CEO, DLP Capital, St. Augustine, Florida
• Mitchell Eviston, Founder and CEO, Meristem Crop Performance Group, LLC, Powell, Ohio
• Tricia Wallwork, CEO, Milo’s Tea Company, Bessemer, Alabama
• Stephen Ellsworth, Founder & Chief Product Officer, and Allison Ellsworth, Founder & Chief Brand Officer, Poppi, Austin, Texas
• Walter Driver, Co-CEO and Chairman of the Board, Scopely, Culver City, California
• Charlie Youakim, CEO and Founder, Sezzle, Minneapolis, Minnesota
• Nathan Ough, President & CEO, VoltaGrid, Houston, Texas

Winners were selected by an independent panel of judges based on entrepreneurial spirit, purpose, growth and impact. The program honors original founders who grew their business from inception; visionary CEOs who transformed existing companies with innovation; and family business leaders who modernized legacy models for future success.

This year’s 221 regional winners represent 191 companies that are shaping what’s next for the economy. Collectively, they generated more than $59 billion in revenue over the past year and employ over 189,000 people. Over the last three years, these companies achieved 38% sales growth and expanded their teams by 23%.

“Since the program’s inception, more than 11,000 ambitious entrepreneurs have been part of the Entrepreneur Of The Year community in the US. Over the years, these visionaries have shaped industries, inspired generations and continually redefined what’s possible,” Jordan said. “The Class of 2025 is no exception. Their achievements are a testament to the enduring power of entrepreneurship and the limitless potential of those who dare to lead.”

The national winners were announced during a celebration held at the Strategic Growth Forum^®, the nation’s most prestigious gathering of high-growth, market-leading companies. Learn more about the Entrepreneur Of The Year 2025 national honorees. All regional and national winners who were celebrated this year are lifetime members of an esteemed community of award winners, with exclusive, continued access to the experience, insight and wisdom of fellow alumni and other ecosystem members in nearly 80 countries — all supported by the full suite of EY resources.

EY US also supports entrepreneurs through the EY Entrepreneurial Winning Women™ program and the EY Entrepreneurs Access Network to help connect underserved entrepreneurs with the resources, network and access needed to unlock their full potential

Sponsors
Founded and produced by Ernst & Young LLP, the Entrepreneur Of The Year Awards include presenting sponsors PNC Bank, SAP, Cresa LLC, Marsh USA, and the Ewing Marion Kauffman Foundation.

About Entrepreneur Of The Year^®
Founded in 1986, Entrepreneur Of The Year^® has celebrated more than 11,000 ambitious visionaries who are leading successful, dynamic businesses in the US, and it has since expanded to nearly 80 countries and territories globally.

The US program consists of 17 regional programs whose panels of independent judges select the regional award winners every June. Those winners compete for national recognition at the Strategic Growth Forum^® in November where National finalists and award winners are announced. The overall National winner represents the US at the World Entrepreneur Of The Year^® competition. Visit ey.com/us/eoy.

About EY
EY is building a better working world by creating new value for clients, people, society and the planet, while building trust in capital markets.

Enabled by data, AI and advanced technology, EY teams help clients shape the future with confidence and develop answers for the most pressing issues of today and tomorrow.

EY teams work across a full spectrum of services in assurance, consulting, tax, strategy and transactions. Fueled by sector insights, a globally connected, multidisciplinary network and diverse ecosystem partners, EY teams can provide services in more than 150 countries and territories.

All in to shape the future with confidence.

EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. Information about how EY collects and uses personal data and a description of the rights individuals have under data protection legislation are available via ey.com/privacy. EY member firms do not practice law where prohibited by local laws. For more information about our organization, please visit ey.com.

Mackenzie Borland
Ernst & Young LLP
+1 908 256 6919
mackenzie.borland@ey.com 

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SOURCE EY

PINE BROOK, N.J., Nov. 17, 2025 /PRNewswire/ — A.J. Willner Auctions will conduct a major liquidation auction of approximately 700,000 Spanish-language and bilingual books from Lectorum Publications, the largest and longest-running Spanish-language book distributor in the United States. The company is closing its doors after more than 60 years in business, citing dramatic federal funding changes that devastated sales throughout 2024.

Lectorum president and CEO Alex Correa told Publishers Weekly that the company’s downfall was driven by a sudden and severe shift in federal school funding—specifically, changes to Title I allocations, which historically enabled schools to purchase Spanish-language reading materials for bilingual and ESL programs.

“The most critical factor for us was the shift in federal funding policies for schools, in particular regarding Title I funds, intended in part for purchases of books in Spanish,” Correa said.

“Our sales were impacted by 30% during the year, which is hard on an industry that already works with thin margins.”

For decades, Lectorum was a cornerstone supplier to educational institutions across the U.S. In previous years, schools accounted for roughly 60% of the company’s business, and children’s books for grades K–8 represented 70–75% of total sales. After the pandemic, the company’s revenue stabilized at roughly $12 million annually, but the sudden policy shift and corresponding drop in school purchasing proved unsustainable.

With school budgets redirected and Spanish-language book allocations curtailed, Lectorum experienced an unprecedented collapse in demand—forcing the company to wind down operations and liquidate its inventory.

Auction Details

• Auctioneer: A.J. Willner Auctions

• Inventory: Approx. 700,000 Spanish-language & bilingual books

• Categories: K–8 children’s literature, award-winning titles, classroom sets, library editions, trade books, bilingual readers, and more

• Location: Pine Brook, NJ

• Timed Online Auction Ends: Dec 4^th, 2025.

A Historic Opportunity for Schools, Libraries, Liquidators & Resellers

For decades, Lectorum has been the leading source of Spanish-language literature for U.S. schools, libraries, bilingual programs, and literacy initiatives. The liquidation represents the single largest offering of Spanish-language educational inventory to hit the U.S. market in years.

Buyers will have access to:

• Pallet lots of new, current-catalog titles
• Children’s bestsellers and bilingual classics
• Classroom sets and guided-reading materials
• Hardcovers, paperbacks, library bindings
• Publisher overstocks, backlist, and deep inventory across all age groups

About Lectorum Publications

Founded more than 60 years ago, Lectorum Publications was the nation’s largest independent distributor of Spanish-language books, serving public schools, dual-language programs, universities, and libraries nationwide. The company also operated as a publisher and produced Spanish-language editions of major U.S. children’s titles.

About A.J. Willner Auctions

A.J. Willner Auctions is a full-service business liquidation firm specializing in commercial inventory, industrial assets, heavy equipment, and specialty collections. With over 100 years of combined experience, the firm serves banks, trustees, attorneys, and private owners throughout the northeastern United States.

CONTACT:
AJ Willner Auctions
Harry Byrnes
(908) 789-9999

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SOURCE AJ Willner Auctions LLC

Global initiative collected over 6,400 lbs. of waste and engaged 1,700+ participants across continents

Photos here

HOLLYWOOD, Fla., Nov. 17, 2025 /PRNewswire/ — For the second consecutive year, Hard Rock International and Seminole Gaming joined forces with nonprofit organization Ocean Conservancy for the Global Sound Waves joint sustainability program. This collaboration unites Hard Rock team members and communities worldwide with Ocean Conservancy’s mission of protecting the oceans by reducing waste and driving meaningful environmental change.

The partnership, motivated by one of Hard Rock’s guiding mottos: Save the Planet, takes a proactive approach to ocean conservation by focusing on upstream waste management, addressing water, food, and material waste to prevent it from polluting the ocean. Through comprehensive waste audits and data-driven analysis, Hard Rock and Ocean Conservancy identify diversion opportunities and implement alternatives that set meaningful waste reduction goals across Hard Rock’s global operations.

The 2025 program included multiple waves:

• Innovation Challenge: A contest produced 51 submissions from front-line team members from properties in 9 countries and 3 continents who identified innovative solutions to reduce waste on their properties.

  1st Place: Jefferson Cristovao, Sukanya Haughton, Erika Barrera – Seminole Classic Casinodeveloped two programs around food waste composting and glass recycling—designed to reduce landfill impact and strengthen community partnerships.
  2nd Place: Sara Mendoza – Hard Rock Hotel Maldives tackled the challenge of broken beach umbrellas, transforming them into stylish wet bags for guests, turning waste into a sustainability reminder.
  3rd Place: Rodrigo Perez Castro – Hard Rock Casino Rockford gamified the reduction of single-use plastic cups, creating an engaging experience that combines entertainment with environmental responsibility.
  4th Place: Jelisa Blunt – Hard Rock Casino Cincinnati proposed reusable cups with smart return technology, rewarding guests through our Unity loyalty program and reducing plastic waste in a tech-forward manner.

• Community Cleanup Events: From September through November, Hard Rock, Seminole Gaming, and Ocean Conservancy coordinated global community activations aimed at enhancing the environment, promoting biodiversity, and reducing waste. Properties such as Seminole Hard Rock Hotel & Casino Hollywood, Seminole Casino Coconut Creek, Seminole Classic Casino, Hard Rock Hotel Pattaya in Thailand, Hard Rock Hotel Tenerife, and Hard Rock Hotel Maldives hosted beach clean-ups that brought 1,700+ team members, guests, communities, and local organizations together to remove pollution from nearby beaches, totaling more than 6,400 lbs. of waste collected. Examples of multi-faceted approaches include Hard Rock Casino Rockford with an e-waste collection drive, book drive, fundraiser, and neighborhood clean-up, while Hard Rock Hotel & Casino Punta Cana integrated environmental education into its Kids’ Club programming to inspire the next generation of ocean advocates.

  Additional participating properties included Hard Rock Hotels in Orlando, Daytona Beach, Goa, Bali, Cancun, Los Cabos, Riviera Maya, Vallarta, Madrid, Marbella, Desaru Coast, and Shenzhen; Hard Rock Hotels & Casinos in Sacramento at Fire Mountain, Sioux City, and Atlantic City; Hard Rock Casino Northern Indiana, and Cincinnati; and Hard Rock Cafes in Cologne, Manchester, Milan, Venice, Nambq and Brussels.

• Team Member Education: Over 143 team members participated in a global trivia event to build the knowledge and skills that can make a difference.

“This partnership reflects Hard Rock’s deep commitment to the areas we serve, with each surrounding environment being such an important part of team member and local community life and guest experiences,” said Paul Pellizzari, Vice President of Global Social Responsibility at Hard Rock International and Seminole Gaming. “We’re proud to support Ocean Conservancy’s vital work protecting our oceans for future generations.”

“We’re grateful for our continued partnership with Hard Rock International and Seminole Gaming,” said Jenna DiPaolo, Chief Brand and Communications Officer at Ocean Conservancy. “Ocean conservation requires collective action, and Hard Rock’s commitment to sustainability shows the powerful impact businesses can have when they prioritize our planet.”

Visit www.hardrock.com/social-responsibility to learn more.

About Hard Rock^® 
Hard Rock International (HRI) is one of the most globally recognized companies with venues in nearly 80 countries spanning more than 300 venues including owned/licensed or managed Hotels, Casinos, Rock Shops^®, Live Performance Locations and Cafes. Beginning with an Eric Clapton guitar, Hard Rock owns the world’s largest and most valuable collection of authentic music memorabilia with more than 88,000 pieces displayed at locations around the globe. The Unity™ by Hard Rock global loyalty program rewards members for doing the things they love across participating properties. In addition, Hard Rock Digital spotlights the sports betting and iGaming experience with products remixed in the spirit of Hard Rock for players worldwide. 

HRI has received numerous industry, destination and workplace awards across the travel, hospitality, gaming, entertainment and food & beverage sectors. HRI currently holds investment grades from primary investment-grade rating agencies: S&P Global Ratings (BBB) and Fitch Ratings (BBB). For more information on Hard Rock International, visit www.hardrock.com or shop.hardrock.com. 

About Ocean Conservancy
For more than 50 years, Ocean Conservancy has delivered effective, evidence-based solutions for the ocean and all who depend on it. Today, we continue to unite science, people and policy to protect our ocean from the greatest challenges it faces: climate change, plastic pollution and biodiversity loss. We are a 501(C)3 headquartered in Washington, D.C. that inspires a worldwide network of partners, advocates and supporters through our comprehensive and clear-eyed approach to ocean conservation. Together, we are securing a healthy ocean and a thriving planet, forever and for everyone. For more information, visit oceanconservancy.org, or follow us on LinkedIn, Facebook, X (formerly Twitter), Bluesky or Instagram. 

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SOURCE Hard Rock International

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BGN and XCF Global sign MOU to develop global production, distribution and logistics infrastructure for SAF and other renewable fuels

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BGN joins International Air Transport Association (IATA) as strategic partner, to drive SAF adoption forward

HOUSTON, Nov. 17, 2025 /PRNewswire/ — BGN INT US LLC (“BGN”), an independent global energy and commodities group and a market leader in transition fuels has signed a Memorandum of Understanding (MOU) with XCF Global, Inc. (“XCF”), a Nasdaq-listed leader in advancing the decarbonization of the aviation industry through Sustainable Aviation Fuel (“SAF”),. This planned partnership, based in Houston, will focus on developing and scaling the production, distribution and logistics of SAF and other renewable fuels including renewable naphtha and diesel.

Under the MOU, XCF and BGN intend to collaborate on renewable fuel production, marketing, and distribution for major airline carriers around the world. The framework agreement includes offtake and co-branded distribution agreements, as well as joint development of renewable fuel production capacity. In addition, the proposed strategic partnership seeks to promote the use of XCF’s SAF within industry trade associations and OEM networks, and throughout the customer value chain.

“We are pleased to be partnering with Houston-based XCF in this exciting venture,” said Cenan Ozmeral, President of BGN Int., LLC, based in Houston. “BGN and XCF share a common goal to expand access to renewable fuels and accelerate the decarbonization of the aviation industry. Together, we aim to combine XCF’s scalable production model with BGN’s marketing and distribution network to create a seamless, efficient supply chain from feedstock to finished fuel.

“BGN’s trading strength, risk management expertise, and integrated logistics network, will make SAF adoption practical and commercially viable for airlines seeking to meet tightening decarbonization targets. This is a major step, which we believe will have a significant impact on the aviation industry’s ability to reduce emissions, in one of the hardest-to-abate transport sectors.”

Aligned with this partnership, BGN has joined the International Air Transport Association (IATA), the leading global trade association for the airline industry, deepening its ties with the sector and demonstrating its long-term commitment to being a top-tier supplier of SAF and renewable fuels.

Chris Cooper, Chief Executive Officer of XCF Global, commented:

“This collaboration represents a critical step in expanding the global reach of renewable fuels. Partnering with BGN would enable us to extend our footprint, streamline logistics, and accelerate commercialization on a global scale with a world-class partner, as we prepare to meet surging demand for sustainable aviation fuel.

“This MOU reflects a shared vision to advance a scalable, commercially viable framework for global renewable fuel production and distribution.”

The collaboration underscores both companies’ commitment to building a robust global supply chain at a time when demand for SAF is expanding rapidly. According to the International Air Transport Association (IATA), airlines will need approximately 165 billion gallons of SAF annually by 2050 to meet net-zero emission targets. Meeting this demand would require the construction of up to 7,000 new facilities worldwide.

This MOU is non-binding, and execution remains subject to due diligence, technical validation, and final agreements.

About BGN group

BGN is an independent global energy and commodities group and a leader in transition fuels. With over 80 years of experience, we trade, distribute, store and finance energy solutions worldwide, handling about 50 million metric tons annually. We operate across the full value chain through strong partnerships with refineries, producers and state energy companies.

Our agile model delivers reliable, affordable energy while driving decarbonization. We are expanding into renewables, SAF, LNG, ammonia and critical minerals and metals. From hubs in Geneva, Dubai, Singapore and Houston, we serve customers in more than 120 countries.

BGN is driving the energy transition with innovation, sustainability and partnership-led growth.

For more information, visit: https://bgn-int.com/ 

About XCF Global, Inc.

XCF Global, Inc. is a pioneering sustainable aviation fuel company dedicated to accelerating the aviation industry’s transition to net-zero emissions. We develop and operate state-of-the-art SAF production facilities engineered to the highest levels of compliance, reliability, and quality, and is building partnerships across the energy and transportation sectors to scale SAF globally. XCF is listed on the Nasdaq Capital Market and trades under the ticker, SAFX. To learn more, visit www.xcf.global.

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SOURCE BGN

NEW YORK, Nov. 17, 2025 /PRNewswire/ — Public reporting on board director race and ethnicity has seen a big drop across corporate America: From 2024 to 2025, the share of companies disclosing such information declined by 40% in the Russell 3000 and 32% in the S&P 500. That’s according to a new report by The Conference Board.

“Driving the sharp reversal in standardized reporting is the 2024 court decision striking down Nasdaq’s board diversity disclosure rule, as well as a broader shift away from public DEI commitments amid mounting legal and political challenges. This pullback raises questions about the durability of recent gains in board diversity,” said Andrew Jones, Principal Researcher at The Conference Board and coauthor of the report.

When it comes to gender diversity, the report finds that women’s representation on boards has reached record levels—but momentum is slowing. From 2022 to 2025, the share of newly appointed women directors declined by 9% in the Russell 3000 and 7% in the S&P 500.

The study was produced with ESGAUGE, Russell Reynolds Associates, KPMG, and The John L. Weinberg Center for Corporate Governance at the University of Delaware.

Director Racial and Ethnic Diversity


Transparency plummets: More companies stop disclosing data on director race and ethnicity.

• Russell 3000: From 2024 to 2025, the share of companies providing any disclosure on directors’ racial or ethnic backgrounds—either at the aggregate or individual level—dropped from 85% to 45%.
  • Longer-term view: In 2022, disclosure was already high at 80%.
• S&P 500: The share dropped from 98% to 66%.
  • Longer-term view: In 2022, disclosure was 95%.

Director Gender Diversity


New appointments of women directors are declining, notwithstanding record representation overall.

• Russell 3000: From 2022 to 2025, the share of newly elected women directors fell from 42% to 33%.
• S&P 500: Share of newly elected women directors fell from 43% to 36%.
• Understanding the numbers: In a shifting environment for corporate diversity efforts and goals, some boards may also be prioritizing technical expertise or risk management experience over demographic diversification.

Director Age


Amid volatility, boards are prioritizing retention and continuity over refreshment.

• Directors under 55: Representation is stagnant or declining across both indices.
• Directors aged 56–60: About 16% of directors in both indices, down from 19% in 2020.
• Directors aged 61–65: Remain stable at roughly about a quarter in both indices.
• Directors aged 66–70: Grew from 19% in 2021 to 22% in 2025 in the Russell 3000 and from 22% to 26% in the S&P 500.
• Understanding the numbers: “This gradual upward shift may indicate that boards are more explicitly valuing experience and institutional continuity during a period of heightened geopolitical, regulatory, and market uncertainty. While older boards may offer steadier oversight and institutional knowledge, the trend raises questions about succession planning, refreshment cadence, and the cultivation of a diverse pipeline of directors,” said Brian Campbell, Leader of The Conference Board Governance & Sustainability Center.

Mandatory retirement policies lose ground as boards favor flexibility over fixed age caps.

• Russell 3000: From 2021 to 2025, the share of companies with mandatory retirement ages (typically 75 years) decreased from 38% to 36%.
• S&P 500: Share decreased from 67% to 62%.
• Understanding the numbers: “This trend suggests that more boards may be relying on evaluation-driven assessments of director performance rather than rigid age thresholds to guide turnover. It may also reflect greater comfort with older, more seasoned directors, whose experience is seen as valuable in a period of complex risk oversight and leadership transition,” said Annalisa Barrett, Senior Advisor, KPMG Board Leadership Center.

Director Skills and Qualifications


Reported board expertise is shifting toward tech, cyber, and human capital—and away from traditional areas like strategy and, to a lesser degree, law.

• Technology: From 2021 to 2025, disclosed tech expertise rose from 15% to 30% in the Russell 3000 and from 20% to 44% in the S&P 500.
• Cybersecurity: Grew from 8% to 17% in the Russell 3000 and from 15% to 27% in the S&P 500.
• Human capital: Increased from 17% to 28% in the Russell 3000 and from 25% to 40% in the S&P 500.
• Strategy: Dropped from 57% to 53% in the Russell 3000 and from 60% to 55% in the S&P 500.
• Law expertise: Dropped from 7% to 5% in the Russell 3000 and from 5% to 2% in the S&P 500.
• Understanding the numbers: “Boards are clearly embracing rising expertise in technology and cybersecurity, with AI likely to follow—though it’s striking that few directors yet claim that skill. The growth in human capital expertise seems tied to the ESG wave, which may have crested. Strategy remains dominant by a wide margin, and while the decline in legal expertise likely reflects a deregulatory perception, that may prove transient. Overall, the data suggest a selective appetite for specialization—alongside enduring confidence in the business-judgment generalist,” said Lawrence A. Cunningham, Presiding Director of The John L. Weinberg Center for Corporate Governance at the University of Delaware.

Director Turnover


Companies steady the ship by reining in board refreshment.

• Russell 3000: From 2022 to 2025, the share of new directors (as a percentage of all elected directors) declined from 13.3% to 8.6%.
• S&P 500: Share of new directors slightly dropped from 8.8% to 8.6%.
• Understanding the numbers: “The 2022 spike in the Russell 3000 reflected a deliberate wave of renewal, as companies diversified board composition and added expertise in digital, human capital, and ESG areas. The current slowdown suggests boards are consolidating those gains—either satisfied with their mix or seeking stability amid political and market uncertainty. The S&P 500 shows a similar, steadier pattern, with fewer new appointments since a 2021 peak,” said Umesh Chandra Tiwari, Executive Director at ESGAUGE.

Director Overboarding Policies


Overboarding policies gain momentum, with double-digit increases in both indices.

• Russell 3000: From 2020 to 2025, overboarding policies—which limit the number of boards a director may serve on—grew from 44% to 56%.
• S&P 500: Grew from 68% to 85%.
• Understanding the numbers: “Among companies with formal limits, the prevailing standard allows service on a total of four public company boards, including the home board. Firms in more complex or regulated sectors—such as financials, utilities, and materials—often adopt stricter caps, reflecting heavier oversight demands,” said Richard Fields, Head of the Board Effectiveness Practice at Russell Reynolds Associates.

About the study: Beyond board diversity, the study examines broader governance trends over time—including board composition, expertise, refreshment practices, and governance standards. Findings are based on proxy statements (DEF 14A) and public disclosures (Forms 10-K and 8-K) from Russell 3000 and S&P 500 companies filed through October 10, 2025.

About The Conference Board
The Conference Board is the member-driven think tank that delivers Trusted Insights for What’s Ahead®. Founded in 1916, we are a non-partisan, not-for-profit entity holding 501 (c) (3) tax-exempt status in the United States. TCB.org 

About ESGAUGE
ESGAUGE is a data mining and analytics firm uniquely designed for the corporate practitioner and the professional service firm seeking customized information on US public companies. It focuses on disclosure of environmental, social, and governance (ESG) practices such as executive and director compensation, board practices, CEO and NEO profiles, proxy voting and shareholder activism, and CSR/sustainability disclosure. Our clients include business corporations, asset management firms, compensation consultants, law firms, accounting and audit firms, and investment companies. We also partner on research projects with think tanks, academic institutions, and the media. www.esgauge.com

About the KPMG Board Leadership Center
The KPMG Board Leadership Center (BLC) champions outstanding corporate governance to drive long-term value and enhance stakeholder confidence. Through an array of insights, perspectives, and programs, the BLC promotes continuous education and improvement of public and private company governance. BLC engages with directors and business leaders on the critical issues driving board agendas—from strategy, risk, talent, and sustainability to data governance, artificial intelligence, audit quality, proxy trends, and more. Learn more at kpmg.com/blc.

About Russell Reynolds Associates
Russell Reynolds Associates is a global leadership advisory firm. Our 500+ consultants in 47 offices work with public, private, and nonprofit organizations across all industries and regions. We help our clients build teams of transformational leaders who can meet today’s challenges and anticipate the digital, economic, sustainability, and political trends that are reshaping the global business environment. From helping boards with their structure, culture, and effectiveness to identifying, assessing and defining the best leadership for organizations, our teams bring their decades of expertise to help clients address their most complex leadership issues. We exist to improve the way the world is led. www.russellreynolds.com

About The Weinberg Center for Corporate Governance
The University of Delaware’s John L. Weinberg Center for Corporate Governance is among the longest-standing academic programs in its field, providing thought leadership through research, public programs, and advisory work. It was founded as the brainchild of Delaware Chancellor William T. Allen, its intellectual founder, and John L. Weinberg, longtime Chairman of Goldman Sachs, who was an early lead benefactor. Based in Delaware—the legal home of most US public companies—the Center offers a neutral forum for dialogue among corporate directors, investors, executives, scholars, and policymakers. Learn more at www.weinberg.udel.edu

 

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SOURCE The Conference Board