Apple appoints senior Bank of America executive as new Chief Diversity Officer

Intellifinance APP learned that Apple (AAPL.US) has recently hired a new diversity executive for the fourth time in recent years, as the iPhone maker strives to make its workforce more inclusive. Banking industry veteran Cynthia Bowman will succeed Barbara Whye as Apple's vice president of inclusion and diversity. Earlier this year, Bowman left Bank of America after 17 years, with her most recent role being Chief Diversity, Inclusion, and Social Responsibility Officer.

Like other tech giants, Apple has been working to make its workforce more representative, with mixed results. The company also faces turnover in its top diversity position. The first executive to hold the position was HR chief Denise Young Smith, who left in 2017 after less than a year. She was succeeded by Christie Smith, who departed in 2020.

Apple has made progress in increasing employee diversity, but the proportion of underrepresented minorities has not increased significantly.

From 2014 to 2022, the percentage of Black employees in the U.S. increased from around 7% to 9%. The percentage of Asian employees doubled to 30%, while the percentage of Hispanic employees rose from 11% to 15%. Globally, women make up 35% of Apple's workforce, up from 30% in 2014. Since 2022, the company has not released new data on its website.

Meanwhile, broader efforts to promote diversity, equity, and inclusion (DEI) in the U.S. corporate world have faced strong opposition. Forrester Research data shows that by the end of this year, the proportion of U.S. companies funding DEI initiatives will drop to 20%, down from 33% in 2022