New York City Comptroller Scott M. Stringer and the New York City Pension Funds today announced that after less than a year, the groundbreaking “Boardroom Accountability Project 2.0” (BAP 2.0) campaign, an initiative which pushes for greater corporate board diversity and transparency reforms, has accomplished unprecedented engagement with more than half of the 151 major…
Category: board diversity
Women on Track to Gain Record Number of Board Seats – WSJ
In the first five months of 2018, women accounted for 248, or 31%, of new board directors at the country’s 3,000 biggest publicly traded companies, according to an analysis of corporate filings by ISS Analytics, the data arm of Institutional Shareholder Services. That is the highest percentage in at least a decade, and puts 2018 on…
New Nominating & Governance Working Group Takes on Barriers to Boardroom Diversity as Push for
A group of top board leaders and other diversity advocates is challenging the continued barriers to board diversity with a new action plan, released today by WomenCorporateDirectors (WCD), the largest organization of women board members globally. The Nominating & Governance Chair (N&G) Roundtable – composed of 18 male and female, ethnically diverse board chairs, CEOs,…
Boards are Still a Old Boys’ Club Even as Rivals Promote Women – TheStreet
The Street had two recent articles about the poor diversity records of Wall Street’s most powerful firms. Many thanks to Bradley Keoun and Anders Keitz for their superb reporting on this. Goldman Sachs: Goldman Sachs Group Inc. (GS) is an old boys’ club — in the boardroom.The Wall Street firm, which publicizes its efforts to…
Amazon adopts ‘Rooney Rule’ proposal for diversity in reversal – Recode
Amazon said on Monday that it would adopt a policy whereby women and people of color are included in the pool of candidates for all board openings, essentially agreeing to a hotly debated shareholder proposal it had initially opposed. “The Amazon Board of Directors has adopted a policy that the Nominating and Corporate Governance Committee…
Gender diversity board proposal at Constellation Software gets largest backing in Canada, but still fails – The Globe and Mail
Constellation Software Inc., the Toronto tech company whose stock has risen sixfold in the past five years, is the last firm in the S&P/TSX 60 index to bring a woman on to its board of directors, after yielding to pressure from investors.A year ago, a shareholder resolution calling for diversity on Constellation’s all-male board garnered…
Investors turn to voting power to take stand on women on boards | The Star
Emboldened by last year’s successful campaigns against excessive executive pay, some of the world’s biggest investors are shifting their focus to women — or the lack thereof — on corporate boards.Legal & General Investment Management is the latest institution to say it will vote against boards that are not at least 25 per cent female….
In Wells Fargo Board Shakeup, Women Win Big – TheStreet
Wells Fargo, with yet another expensive and embarrassing fine to pay, $1 billion for fraudulent charges, has decided to “refresh” its board by adding more women. “You’re not supposed to wait for a catastrophe to say, Well it can’t get any worse, let’s give the women a try,” Nell Minow, vice chair of consultant ValueEdge…
Corporate Boards Are Looking for CEOs Who Aren’t Old White Men – Bloomberg
A growing number of companies, including Tyson, Republic Services, Foot Locker, and Best Buy, are eschewing traditional board candidates—retired chief executive officers, who are overwhelmingly older white men—and opting for diverse members, many of them first-timers with no experience.In 2017, 45 percent of appointees to the boards of S&P 500 companies were novice directors, the…
Women Are Gaining Seats Without Power on Corporate America’s Boards – TheStreet
The biggest U.S. companies, which have been promoting women directors amid evidence that gender diversity can lead to better financial results, give those women fewer leadership roles once they’re on the board, according to a study.Among lead independent directors in the S&P 1500 in 2015, 57 were female compared with 539 who were men, according…
