Slowly but steadily, investors are letting corporate boards knowthat “male, pale and stale” doesn't cut it anymore.

The small but growing number of shareholder votes on diversityproposals is on pace to match or exceed the record set last year,according to data compiled by ISS Analytics, which tracks proxies.Apple and Tyson Foods investors already rejected such proposals,and another eight are in the queue.

The $309.7 billion California Public Employees' RetirementSystem has made diversity proposals a priority in its proxy voting,aiming to break companies “out of the group think of male, pale andstale,” said investment director Anne Simpson. “As evidence growson this and fund managers focus on building diversity even in theirown organizations, I think we're going to see support on thismoving up.”

Continue Reading for Free

Register and gain access to:

  • Thought leadership on regulatory changes, economic trends, corporate success stories, and tactical solutions for treasurers, CFOs, risk managers, controllers, and other finance professionals
  • Informative weekly newsletter featuring news, analysis, real-world cas studies, and other critical content
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the employee benefits and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.