Nasdaq: Diversify, disclose or delist

Nasdaq is the latest company to try to jumpstart board diversity - laying out #diversity requirements for being listed on the exchange. The requirements are similar to the standards set by Goldman Sachs for boards of companies the bank will underwrite in an IPO. Only a quarter of Nasdaq members would comply today. In this story with Lananh Nguyen, Nelson Griggs gives some of his thoughts about the plan and Scott Yonker from Cornell University weighs in on the value of board member diversity. Would your company board diversity without outside pressure? So far, the general talk about the importance of shaking up the board room has been strong -- and the results have less impressive... #boardsofdirectors #corpgov

Making some progress. I resigned in protest from the Reddit board in June and was relieved and delighted to see them honor my request to be replaced by a Black director and finally ban a number of hate communities. Six months later, I haven't seen a ton of movement to diversify other boards, but this is an important push from the top-down. If we as a society start demanding it from the bottom-up, using our dollars as votes, change will absolutely come even faster. https://lnkd.in/ep8BZxz

Nasdaq is the latest company to try to jumpstart board diversity - laying out #diversity requirements for being listed on the exchange. The requirements are similar to the standards set by Goldman Sachs for boards of companies the bank will underwrite in an IPO. Only a quarter of Nasdaq members would comply today. In this story with Lananh Nguyen, Nelson Griggs gives some of his thoughts about the plan and Scott Yonker from Cornell University weighs in on the value of board member diversity. Would your company board diversity without outside pressure? So far, the general talk about the importance of shaking up the board room has been strong -- and the results have less impressive... #boardsofdirectors #corpgov

THIS!! Bravo Nasdaq for realizing you have the power to promote change and inclusive cultures to foster innovation and a stronger economy through diversity of thought.

Congratulations to Adena Friedman and Nasdaq for championing such an important rule change with the SEC. It’s a simple fact that companies with diverse governance perform better, and that’s why I’m proud to support this proposal:

Diversify or delist. This is so incredibly important for America, for the companies listed on the NASDAQ and for all American workers. NASDAQ is asking the SEC for permission to require at least one woman and one diverse board member on each company board. I sit on Fortune 500 company board that is 50% diverse. It makes for a much stronger company. I’ve seen the difference firsthand. #nasdaq #corporations #boardofdirectors #biascorrect #thesavvybook

So excited by this breaking news from Nasdaq this morning on CNBC! NASDAQ will now require all listed companies to have at least one woman and one minority on their board. There is another factor at play, however- companies must ALSO disclose their diversity or risk being delisted, and right now 75% of the 3,000 listed companies do not meet this requirement. This presents an immediate and meaningful opportunity for women and minority board candidates. The tide is turning thanks to incredible leaders like NASDAQ CEO Adena Friedman, who is actively ensuring companies step up to the plate with this historic move. Thank you for asking the SEC to make the diversity disclosure a rule for all. We at The Fourth Floor (and all women everywhere) thank you! #genderequality #womenonboards # #diversityequityinclusion

“Nasdaq will require boards to have at least one woman and one director who self-identifies as an underrepresented minority or L.G.B.T.Q. (Those categories are not, of course, mutually exclusive.) To give companies time to comply, they will need to publicly disclose their board diversity data within a year of S.E.C. approval, and have at least one woman or diverse director within two years. Bigger companies will be expected to have one of each type of director within four years.” #diversityandinclusion #representationmatters #boarddiversity https://lnkd.in/gNSbDCX

Diversify or delist. This is so incredibly important for America, for the companies listed on the NASDAQ and for all American workers. NASDAQ is asking the SEC for permission to require at least one woman and one diverse board member on each company board. I sit on Fortune 500 company board that is 50% diverse. It makes for a much stronger company. I’ve seen the difference firsthand. #nasdaq #corporations #boardofdirectors #biascorrect #thesavvybook