Agenda – Droves of Male Board Retirees Replaced by Women

We’re not sure this qualifies as “droves,” but it is a small step toward what will eventually be gender parity on boards. We hope “eventually” means soon. As male directors leave boards due to age, retirement or opting not to stand for reelection, they are consistently being replaced by an ever-increasing number of women, and,…

SEC Sued Over NASDAQ Board Diversity Rule

Once again, those who love to rhapsodize about the free market want to protest when they don’t like the results. A group claiming to be about free enterprise is suing the SEC over its approval of the NASDQ listing standards on board diversity. For the thousandth time, that rule is not a quota. It is…

Board Diversity Suit Dismissed

A California federal judge has dismissed shareholder derivative claims against NortonLifeLock Inc. that accused the cybersecurity giant’s board of failing to uphold its stated commitment to diversity and inclusion. U.S. District Judge Richard Seeborg acknowledged Monday that his ruling comes after the dismissals of several similar derivative actions filed by the same law firm that accuse a range of name-brand…

S&P 500 appoints nearly 200% more black board directors in past year

A year on from the racial justice protests sparked by the murder of George Floyd, companies in the US have responded by boosting the appointment of black directors to S&P 500 boards. Research from ISS, the global proxy advisers, says that between 1 July 2020 and 19 May 19 this year almost a third—32%—of all…

Carlyle to Tie CEO Pay, Worker Bonuses to Diversity Goals – Bloomberg

Carlyle Group Inc. is the latest company to tie compensation of its chief executive officer to the firm’s performance on certain diversity and inclusion goals as corporate America tries to make good on promises to boost underrepresented talent. Kewsong Lee’s pay, which totaled $16.4 million last year, will be measured against a “comprehensive set of…

CA Diversity Law Has an Impact

California has made history in the last few years for passing legislation aimed at diversifying corporate boardrooms with more women and people from different ethnic backgrounds. Senate Bill 826, which was passed and signed by former Gov. Jerry Brown in 2018, dictates that all public companies will need to have at least one to three…