Nasdaq Joins Goldman in Corporate Push for More Diverse Boards
- Will mandate at least one woman, one underrepresented minority
- Exchange will also make issuers publish board diversity data
Companies are under increasing pressure from investors and advocates to improve diversity in their top ranks.
Photographer: Michael Nagle/BloombergThis article is for subscribers only.
Nasdaq Inc. plans to require more diversity on boards of directors, the latest push by corporate America to encourage change as regulatory requirements remain unlikely in a gridlocked Washington.
Under its proposed rules, most companies listed on Nasdaq’s U.S. exchange would have to include at least one director who identifies as female and one who identifies as an underrepresented minority or LGBTQ, Nasdaq said in a statement Tuesday. About a quarter of its listed companies currently meet that standard, according to the exchange, which is seeking approval for the plan from the Securities and Exchange Commission.