Home NEWSBusiness White men dominate the boards of CT’s Fortune 500 companies. Will diversity efforts lead to change?

White men dominate the boards of CT’s Fortune 500 companies. Will diversity efforts lead to change?

by universalverge

Amid the turmoil of the previous 12 months, firms throughout the nation have confronted rising strain to advance racial justice and equality and make their organizations extra various.

As publicly traded firms put together for upcoming annual shareholder conferences, the drive for reform has reached the boardroom.

A rising variety of stakeholders are calling for extra ladies and other people of shade to serve on boards of administrators, arguing that rising their illustration is critical to reply to the wants of various teams of workers and prospects. The push is coming from inside and out of doors firms, with these advocating for change together with funding companies equivalent to Greenwich-based Mill Street Capital.

“Coming by way of 2020, the mix of the pandemic and racial reckoning has actually compelled a a lot nearer examination round these social-justice points,” James D. White, the previous CEO of Jamba Juice and Mill Street’s new head of board governance and variety initiatives, mentioned in an interview. “You’ve obtained CEOs and boards taking totally different sorts of stands than they’ve taken traditionally. They’re being held accountable by a mix of workers and shoppers, and each of these stakeholder teams are voting with their wallets and ft.”

Lack of board range

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