Leading Organization Representing Board Members Comments on California Mandating Women on Corporate Boards
WASHINGTON, Oct. 04, 2018 (GLOBE NEWSWIRE) -- The National Association of Corporate Directors (NACD), the authority on boardroom practices representing more than 19,000 board members, issued the following statement today from Peter Gleason, president and CEO, on California’s mandating women on corporate boards:
“For more than 20 years, NACD has charted a path to more diverse and inclusive board rooms.
“We believe that thinking deeply about who sits around the boardroom table can yield a substantial competitive advantage. Having leaders with varied experiences and new perspectives can lead to increased innovation, stronger performance, and greater resiliency. We have called on boards to understand and anticipate this emerging future—and we have warned that those companies who failed to do so could be left behind.
“While we believe that boards should be intentional about diversity as a business imperative, we don’t believe in prescribing how boards should get there. NACD supports the ultimate goal of this California law, but we believe responsibility for board composition needs to stay with the nominating and governance committee of the board, informed by dialogue with major investors and a continuous effort to understand the changing competitive landscape. There is no one-size-fits-all approach.
“NACD will continue to work to accelerate progress in the area of board diversity by providing boards with the necessary tools and resources. Our NACD NXT initiative, for example, showcases boards that are using diversity and innovation to elevate company performance.”
About NACDThe National Association of Corporate Directors (NACD) empowers more than 19,000 directors to lead with confidence in the boardroom. As the recognized authority on leading boardroom practices, NACD helps boards strengthen investor trust and public confidence by ensuring that today’s directors are well prepared for tomorrow’s challenges. World-class boards join NACD to elevate performance, gain foresight, and instill confidence. Fostering collaboration among directors, investors, and corporate governance stakeholders, NACD has been setting the standard for responsible board leadership for 40 years. To learn more about NACD, visit www.NACDonline.org.