Institutional Investor (March 7)
State Street Global Advisors (SSGA) is taking the lead to promote board diversity just as it took the lead to reduce board tenure. SSGA “is calling for companies to include more women on their boards, or be prepared for the $2.4 trillion asset manager to start voting down board director candidates at the proxy level in order to force the issue.” SSGA has put 3,500 companies on notice that they have “about a year to increase diversity on their own before SSGA starts influencing their selection of board directors at the proxy level.”
Tags: Asset manager, Board diversity, Candidates, Proxy, State Street, Tenure, Women
Financial Times (August 15)
“US boardrooms are older, more male and filled with longer-serving directors than their European counterparts…. Directors of large and midsize US companies are four years older, on average, than European directors and almost twice as likely to be over the age of 65.”
