The rules, which require approval by the Securities and Exchange Commission to enter into force, would require the company to have at least two diverse directors, including one woman and one member of a minority “minority” or LQ minority, including members of the minority. A small company and a foreign exchange company can follow two female directors.
Companies also need to disclose “consistent and transparent diversity statistics” on their boards. Assuming they are approved, the rules will require a diversified director within two years and two years within four to five years, depending on the size of the company. A company can take its shares off the exchange if it does not comply.
“The purpose of the Nasdaq is to create growth and prosperity for a strong economy,” said Adena Friedman, CEO of Nasdaq. Nasdaq’s analysis provides analysis of more than 20,000 studies that have found a link between diversified boards and improved financial performance and corporate governance.
Exchanges engage with more and more vocal groups, which encourages diversity in the classroom. In September, Gavin Newsom, the governor of California, signed a law that would require at least one minority member of the board of trustees of all California-based public trade firms. And in January c. ส. Khampheang Xaysompheang (NRA)
Has announced that it will not accept members of the company unless it has a diverse board of directors.
Many large public companies comply with the most stringent terms of the Nasdaq. In fact, four of the five largest companies in exchange on market value – Apple (AAPL)
, Microsoft (MSFT)
, Owner of Google The text (GOOG)
And Facebook (FB)
– There is a white sand board.
The other two companies in the top ten – Communism (CMCSA)
And Adobe (ADB)
– There are women or ethnic minorities making half boards. And third-largest companies, Amazon (AMZN)
, There are 5 women, 2 of them are from ethnic groups, in a group of 11 members.
A Nasdaq spokesman said it believed at least 85% of its 3,249 listed companies had complied with the first provision of the rules, with one woman or a minority member on their board.
But the board is still the cornerstone of white sand power in American companies. Study in September by ISS ESG
, An investment agency responsible for institutional shareholder services, found that only 16.8% of the 33,000 executives of the parent company are ethnic minority groups, and only 27.4% of the CEOs. And 55 of the 496 large corporations as measured by the ISS ESG, or 11%, do not have diversified directors.
But there are critics pushing for the widest variety on the board. Conservative group Judicial Watch filed a lawsuit in September to block California law requiring a minority tribal director to set up a publicly traded company there.
Judicial President Tom Fitton said: “The California government is keen on unconstitutional quotas.” “Gender quotas, and now quotas for other groups for corporations, are being thrown at the core of America’s core values of equal protection under the law.”