In a December blog, I asked the boys if they were listening. Study after study has shown that companies with boards of directors with three or more — YES, THREE OR MORE — women have better financial performance, higher returns on equity and greater returns to shareholders. They even pay less for mergers and acquisitions. I challenged ISS and Glass Lewis to stir the pot. Well, it appears that, with or without proxy advisory services, shareholders are hearing the message loudly and clearly: Women and minorities need to be and should be on the menu . . . Er, the slate.
As we have discussed before, activists are not going away any time soon. Their (and non-activist shareholders’) overwhelming desire is for your company to make money on your stock. Be proactive. Be preemptive. Be prepared. Make a vow to pursue diversity. Now.