Meet the New Board — Same as the Old Board
MIT Sloan Management Review|Fall 2022
Many companies are just going through the motions of recruiting more diverse board members. It’s time to get serious about board refreshment.
CYNTHIA E. CLARK AND JILL A. BROWN
Meet the New Board — Same as the Old Board

INCREASED SCRUTINY FROM INVESTORS, REGULATORS, THE MEDIA, AND other stakeholders is pressuring public companies to refresh their boards of directors to achieve greater diversity. Shareholders have sued at least a dozen public company boards since mid-2020, accusing them of failing to diversify. From July 2020 through June 2021, investment manager Black-Rock voted against more than 1,800 directors at close to 1,000 companies for insufficient action to increase board diversity. Proxy advisory firm Institutional Shareholder Services now recommends withholding votes from, or voting against, directors with nominating or governance roles on boards that don’t have at least one non-White director and at least one woman. The Nasdaq exchange, with the approval of the U.S. Securities and Exchange Commission, will soon require listed companies to have at least two demographically diverse directors (or explain why they don’t).

Diverse boards representing a broader range of experience may be better able to quickly navigate volatile business environments and unexpected disruptions, such as a global pandemic. Recent data from BoardReady, a nonprofit group that promotes corporate diversity, found a positive correlation between the diversity of S&P 500 boards and revenue growth during the pandemic.

この記事は MIT Sloan Management Review の Fall 2022 版に掲載されています。

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この記事は MIT Sloan Management Review の Fall 2022 版に掲載されています。

7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。

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