NACD Launches Center to Improve Boardroom Inclusion

The National Association of Corporate Directors (NACD), the US authority on boardroom practices, has announced the launch of the Center for Inclusive Governance to improve boardroom inclusion.

Although the number of Fortune 500 companies with over 40% diversity on their boards is nearly four times higher than back in 2010; they are still decades away from reflecting the number of women/minorities in the US population, according to a Deloitte/Alliance for Board Diversity study. The Center will not only directly address the need for boards to diversify; but also ensure that new and diverse voices on boards are heard.

Additionally, preliminary results from the upcoming NACD 2021 American Board Practices and Oversight Report indicate that two-thirds of directors cite barriers to inclusion. They specifically pointed to a lack of prioritisation (among other board issues), as well as board dynamics, as impediments to inclusivity in the boardroom.

ADDRESSING BARRIERS TO INCLUSION

The Center will address those barriers by working with renowned inclusion experts; by bringing diversity organisations together to work collectively. This includes collaboration among a growing number of diversity organisations, such as Ascend Pinnacle; C200; Out Leadership; the Executive Leadership Council; the Latino Corporate Directors Association; and the US Chamber of Commerce. They will partner with NACD to share the lessons learned by their individual organisations.

The new Center will also provide boards with “top-notch” research, guidance and measurement tools to ensure that new perspectives and ideas are incorporated into the problem-solving and strategic thinking that form an integral part of board governance.  

ADVANCING DIVERSITY & INCLUSION ON BOARDS

The Honourable Cari Dominguez, NACD board member and former Chair of the US Equal Employment Opportunity Commission, will lead the Center. Dominguez has a background in employment law, talent management, human resources, executive search, financial services and corporate governance.

“I have devoted my career spanning the public and private sectors to advocating and advancing diversity and inclusion,” said Dominguez. “I am proud to Chair the NACD Center for Inclusive Governance because it will advance actionable strategies for diversity and inclusion; by working with boards to create an environment in which the contributions of all members and stakeholders are welcomed and valued, which will lead to better, stronger governance results.”

DISTINGUISHED D&I ADVISORS

Dominguez will work with a distinguished list of diversity and inclusion advisors, including:

• The Honourable Luis A Aguilar, Former Commissioner, US Securities and Exchange Commission. 
• Esther Aguilera, President and CEO, the Latino Corporate Directors Association. 
• Dr Rohini Anand, Founder and CEO, Rohini Anand LLC; Former SVP Corporate Responsibility and Global Chief Diversity Officer, Sodexo. 
• Lori George Billingsley, Global Chief Diversity, Equity and Inclusion Officer, The Coca-Cola Company. 
• Emily Chew, Executive Vice President and Chief Responsible Investment Officer, Calvert Research and Management. 
• Jeannie H Diefenderfer, CEO, the Center for Higher Ambition Leadership. 
• Tracy Gee, Chief People Officer, NACD. 
• Fabrice Houdart, Managing Director, Global Equality Initiatives, Out Leadership. 
• Michael C Hyter, President and CEO of the Executive Leadership Council. 
• General Lester A Lyles, US Air Force (Ret.); Independent Consultant; Former Vice Chief of Staff, US Air Force 
• Katie Rowen, SVP, General Counsel, and Interim CHRO for Vontier Corporation; President and Director of the Vontier Foundation. 
• Lisa Spivey, Executive Director, NACD Northern California Chapter. 
• Joseph R Swedish, Past Chair, President, and CEO of Anthem; Director, IBM, CDW, MesoBlast and Centrexion.

“The Center for Inclusive Governance at NACD will leverage our deep expertise and capabilities in advancing thought leadership and fostering leading practices and exchange; as well as provide boards with the guidance and tools they need to evaluate their own level of inclusivity,” stated NACD President and CEO, Peter R Gleason. “And, importantly, it will unite partners and allies who champion diversity in their individual organisations to work collectively to benefit the governance community.”

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We have to wait until at least 2074 before Fortune 500 board seats held by underrepresented groups and minorities reaches the ‘aspirational’ 40% diversity rate, set by the Alliance for Board Diversity, confirms a new report. Click here to read more.