BlackRock “Encouraging” Companies to Add Women Directors
BlackRock Inc. is calling out company’s who do not have women filling positions on their boards. Earlier in the year, the world’s largest asset manager sent letters to the companies on the Russell 1000 index who had less than two women on their boards. The letters asked the companies to explain their lack of progress.
Some responses from the companies were shocking with remarks that included:
- “There aren’t any qualified women.”
- “We don’t need a woman director.”
- “We’re not a consumer-facing company.”
BlackRock’s research has proven that the more diversity there is on company boards, the better the results, and female directors are becoming increasingly popular. BlackRock currently has five women sitting on its 18 member board and encourages companies to search for their directors in uncommon places.
“Every man was a first-time director once. If someone took a bet on an untrained director who happened to be a man, you can take a bet on an untrained director who happens to be a woman.” – Michelle Edkins, Managing Director
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