If Agenda was not so board-centric, its headline might have been the more accurate: Poor Judgement and Lack of Responsiveness to Investor Concerns from Board Members Leading to No Votes for Director Candidates. We note that another article in the same issue highlights the increase in diversity and financial expertise on boards, which it is…
Tag: board diversity
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,…
Disney appoints woman as chair for first time in 98-year history – BBC News
Walt Disney has elected a woman to chair its board for the first time in the entertainment giant’s 98-year history. Susan Arnold, who has been a Disney board member for 14 years, will succeed Bob Iger at the end of this year….”As I step into this new role as chairman of the board, I look…
Newest Class of Corporate Directors Is the Most Diverse Yet, but Gains Are Uneven – WSJ
U.S. public companies added the most diverse slate of new directors on record to their boards over the past year, with a surge of Black nominees and elevated numbers of women and first-time directors, according to two new studies. The gains were uneven, with about half of public-company boards adding no new members and smaller…
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…
Majority of California Companies Do Not Meet Gender Diversity Numbers| Reuters
More than half of California’s public companies did not have enough women on their boards as of March to put them in compliance with the state’s end-of-year deadline to increase gender diversity in the boardroom, according to a study. According to research by 50/50 Women on Boards provided to Reuters, 54% of active Russell 3000…
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…
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