Coalition Pushes Board Diversity Benefits and Best Practices; Urges Region’s Companies to Appoint More Women and People of Color to Boards of Directors

HARTFORD, CT ― Today, Connecticut State Treasurer Shawn T. Wooden30PC LogoMobileMember, along with institutional investors from states across the region, announced the Northeast Investors’ Diversity

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In the last five years, we’ve seen more women rise to the top levels of companies. An increasing number of companies are seeing the value of having more women in leadership, and they’re proving that they can make progress on gender diversity. This is an important step in the right direction.

Institutional investors’ recent signals to boards indicate a stronger-than-ever focuson the issue of boardroom diversity. naacd

The largest asset manager in the world, Black-Rock Inc., has indicated that it will likely vote against boards that fail to make progress on diversity, if the board doesn’t have


The study finds that firms with female CFOs are more profitable and generated excess profits2 of $1.8T over the study horizon.

Key Takeaways

  • Firms with female CEOs and CFOs have produced superior stock price performance, compared to the market average.

washingtonpostThe man in charge of New York City’s $200 billion public pension fund wants more than 50 companies to take a page from the National Football League and pledge that they will consider female and minority candidates for their highest-level jobs.

...we find that banks with more gender diversity on their board perform better once the composition of these boards reaches a critical level of gender diversity, corresponding to a board female share of around 13-17 percent.

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