Agenda Diversity 100 – a new directory of board-ready diverse candidates, compiled by Equilar and FT’s Agenda, has debunked the myth of the ‘pipeline problem’.
In a bid to add professionals from diverse backgrounds to public company boards of directors, Equilar has partnered with Financial Times’ publication Agenda to compile a directory of board-ready diverse candidates.
“One of the biggest barriers to increased diversity on boards is the perception of a lack of qualified candidates from underrepresented groups,” stated David Chun, Founder and CEO of Equilar. “The Agenda Diversity 100 presents a go-to list of board-ready candidates, debunking the myth of the ‘pipeline problem.’ This directory shines a bright spotlight on exemplary individuals among the sea of qualified diverse candidates who will bring our boards into the next generation.”
PRE-VETTED & BOARD READY CANDIDATES
The Agenda Diversity 100 list features pre-vetted and board-ready candidates from underrepresented demographic groups. The list is compiled through the Equilar BoardEdge platform, which is bolstered by partnerships that encompass the Equilar Diversity Network; a “registry of registries” of board-ready executives from leading ethnic, LGBTQ and gender diversity organisations.
Racial and ethnic minorities have been added to boards of directors in the US at an increasing pace in recent years; yet they continue to be underrepresented by large factors in comparison to their share of the population and the workforce. Individuals representing racial and ethnic minorities now sit in nearly 20% of board seats at the largest US companies by revenue, according to Equilar data.
DIVERSIFYING WHITE, MALE BOARDS
“Diversifying boards, which have remained largely male and White in the United States, requires deliberate recruitment choices,” added Melissa Anderson, Managing Editor of Agenda. “We know from our internal data that corporate directors are looking intently for board-ready candidates from groups that have been underrepresented in boardrooms. What sets this directory apart is the curation by our esteemed selection committee; a group consisting of directors on blue-chip boards, investors, former regulators and important voices from the corporate governance space – and the vetting done by our team of independent journalists.”
The individuals featured in the directory were nominated and confirmed by well-respected board directors and other governance experts to have the leadership and strategic skills necessary to add value to a board.
DEFINITION OF DIVERSE
The report’s definition of “diverse” is based on California’s recently passed law AB 979. It requires boards of directors at publicly held companies to include at least one member of an “underrepresented community” by the end of 2021; and two or three members of those communities by the end of 2022, depending on the size of the board.
The law defines underrepresented communities as the following groups: Black, African American, Hispanic, Latino, Asian, Pacific Islander, Native American, Native Hawaiian, or Alaska Native, or [those] who self-identify as gay, lesbian, bisexual, or transgender.
Board diversity progress worldwide is ‘slow and insufficient’, according to a recent report. Click here to read more.
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