- SEC Chair, Mary Jo White, on the Importance of Board Diversity and Possible Change in Board Diversity Disclosure
- October 17, 2016
- Law Firm: Greenberg Traurig LLP - New York Office
Throughout the year, Mary Jo White, Chair of the SEC, has spoken on the issue of greater diversity on company boards and more informative board diversity disclosures.
In her Sept. 25, 2016 article for American Banker entitled “Board Diversity Is the Right Thing to Do,” Chair White reinforced her position that companies are better served by increased diversity on company boards. In the article, Chair White cited several studies that have shown that diversity on boards is linked to better financial results for companies, and stated, based on her personal experience, that board diversity contributes to high-quality decision-making. Proactively embracing diversity, according to Chair White, is not just an easy business decision to make for companies, but also the right thing to do.
Chair White further added that the SEC Staff is currently preparing a recommendation to amend the current diversity disclosure rule to require more specificity, including information on the race, gender and ethnicity of board members and nominees.