CEOs report to corporate boards, and research indicates that the makeup of those boards matters.

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Most corporate boards don't represent the US population and lack diversity, research shows. But companies with more diversity among the executive ranks have been found to outperform peers. Bessie Watts of Vista Equity Partners, a large investment firm, is working to diversify more boards.

Behind almost every Fortune 500 CEO is a group of powerful people calling the...

Continue Reading Lack of diversity in America's boardrooms is holding companies back. But there's a growing movement to fix the problem.