Tag: Diversity

Goldman asset management arm takes tough stance on companies’ board diversity | Financial Times

Goldman Sachs has said its asset management business will vote against big companies that do not have a minimum number of female and minority board members from next year, in a decision that could affect thousands of companies. Beginning in March 2022, Goldman Sachs Asset Management will require companies globally to have at least two women on any board with…

Read More

Nasdaq’s Plan for Diversity on Corporate Boards Is Decried by Senate Republicans – WSJ

A group of senate Republicans decried Nasdaq’s push for greater diversity on corporate boards, saying it interfered with board members’ duty to govern in the best interests of shareholders and could harm financial performance. In a letter on Friday, all 12 Republicans on the Senate Banking Committee called on the Securities and Exchange Commission to reject Nasdaq’s proposal to require…

Read More

Nasdaq to Advance Diversity through New Proposed Listing Requirements | Nasdaq, Inc.

Nasdaq (Nasdaq: NDAQ) today filed a proposal with the U.S. Securities and Exchange Commission (SEC) to adopt new listing rules related to board diversity and disclosure. If approved by the SEC, the new listing rules would require all companies listed on Nasdaq’s U.S. exchange to publicly disclose consistent, transparent diversity statistics regarding their board of directors. Additionally, the rules would…

Read More

California Board Diversity Laws Make Waves

Experts following the new statutes agree on two key points. First, California corporations have succeeded in finding women directors from diverse backgrounds in response to the 2018 statute, despite opponents’ assertions that boards would have difficulty identifying good nominees. As a result, they contend that boards won’t have trouble identifying other diverse candidates either. And second, both statutes will face…

Read More

California Board of Directors Diversity Bill Signed Into Law, Challenged by Lawsuit | The D&O Diary

In addition to the recent litigation, efforts to advance board racial diversity have included legislation. Earlier this year, the California legislature passed a bill mandating the inclusion on boards of California headquartered companies of representatives of “underrepresented communities.” On September 30, 2020, California Governor Gavin Newsome signed the bill into law. As discussed below, even though the law has only…

Read More

Judge in Robinhood class action balks at all-male class counsel team – Reuters

Judge Donato, in an order Tuesday night, consolidated the cases – but rejected the leadership proposal. There was no doubt, he said, that Kaplan Fox and Cotchett would provide “highly professional and sophisticated representation” to the prospective class, given their “impressive history.” But Judge Donato said he was concerned that the proposed team lacked diversity. There were no women among…

Read More