Source: United States House of Representatives – Congresswoman Carolyn Maloney (12th District of New York)
NEW YORK, NY – Congresswoman Carolyn B. Maloney (D-NY), author of the Diversity in Corporate Leadership Act, released the following statement applauding Nasdaq’s proposal for new listing rules that “would require all companies listed on Nasdaq’s U.S. exchange to publicly disclose consistent, transparent diversity statistics regarding their board of directors.”
“I applaud Nasdaq for proposing this important rule to provide much-needed transparency on corporate board diversity. I have been working for years to increase corporate board diversity and rules like this, similar to what I proposed in my Diversity in Corporate Leadership Act, will go a long way toward helping us reach that goal.
“I strongly believe that by requiring companies to disclose this information, and therefore take a real look at the gender, racial, and ethnic makeup of their boards, we will create the right incentives and inspire change so that these boards better resemble the American public at large.
“Disclosing this information to investors empowers shareholders to support companies that embody their ideals and pull investment from those that don’t. Beyond making moral and common sense, increased diversity also makes financial sense. Studies have repeatedly found that companies with more diverse leadership are better positioned to succeed. Why wouldn’t companies want to show off that they’re making smart financial decisions by moving towards more diversity and equality on their boards?”