On Friday, September 8, New York City Comptroller Scott M. Stringer sent a letter to 151 companies seeking engagement around a range of disclosures regarding the race and gender of company directors, the creation of a standardized director skills matrix and details of those companies’ director evaluation and succession plans
For the first time in eight years, the percent of women on U.S. corporate boards declined last year. Despite more evidence about the benefits of the increasing the number women on boards (such as better decision making), and mounting pressure from groups like State Street Global Advisers and Blackrock to do so, the data suggest it will take until the end of 2055 to have board parity in the U.S. if we continue at the current rate.
Apparently, just about everyone is on board with the concept of board gender diversity—almost 70% of investors viewed as problematic the absence of any women on a board. However, making board diversity a reality seems to be a tougher proposition.