Corporate Board Diversity
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About the Treasurerís Efforts
Treasurer John Chiang has renewed his call for more diversity in corporate board rooms.
Citing studies that show little progress toward increasing the number of women and minorities on such boards, Chiang issued a letter in February 2015 calling upon the California Public Employees' Retirement System (CalPERS) and the California State Teachers Retirement System (CalSTRS) to take more steps to encourage change.
Specifically, he asked them to examine:
- how the use of proxy access (i.e., providing shareowners with means of nominating their own candidates) can help shape the composition of a board;
- what is a reasonable length of tenure for a board member to serve; and
- how qualified diverse candidates can become more visible to corporate boards during search and recruitment efforts.
Chiang also called for the broadening of the definition of “diversity” to include sexual orientation and gender identity. Read the related news release.
- Treasurer Chiang’s letter to CalPERS and CalSTRS
- Letter of Support from Equality California
- Letter of Support from California Legislative Lesbian, Gay, Bisexual and Transgender (LGBT) Caucus
- Letter of Support from California Legislative Black Caucus
- Letter of Support from California Latino Legislative Caucus
- Letter of Support from Assemblymember Luis Alejo
- Letter of Support from California Legislative Womenís Caucus
- Diversify Your Board
May 8, 2015
- ‘Mad Men’ days over: Women, minorities belong on corporate boards
San Francisco Chronicle
April 27, 2015
- CalSTRS Board Updates Corporate Governance Principles on Corporate Board Diversity
April 3, 2015
- Women Make Few Inroads on Corporate Boards
March 4, 2015
- Call For Largest US Pension Funds To Support Real Diversity
February 20, 2015
- How Macy's quietly created one of America's most diverse boards
February 18, 2015
- “Missing Pieces: Women and Minorities on Fortune 500 Boards.” Alliance for Board Diversity. 2013
- “Women and Minorities on Fortune 100 Boards.” Alliance for Board Diversity. 2008