California Board Diversity Law Overturned: Debate Could Rekindle
The ruling will likely cause confusion and potential heated debate in boardrooms.
The ruling will likely cause confusion and potential heated debate in boardrooms.
Under the proposed rules, companies would be required to have at least one female director and one director who self identifies as either an underrepresented minority or LGBTQ.
An increase of 240% means that institutional investors are, at least behind closed doors, increasingly talking about appointments of diverse groups to boards—and companies are listening.
Teri McClure, an African American who serves on four corporate boards, reacts to Wells Fargo CEO Charlie Scharf’s recent gaffe and shares her views on recruiting and retaining diverse talent.
When the company had an opportunity to build its board from scratch after the breakup of Hewlett Packard, Lores made diversity a top priority.
Some might interpret the move as a statement that white directors resigning is the only way to bring diversity to the board. That’s not what this is about.
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