Political Pressure Builds for Companies to Increase Board Diversity

Philadelphia partner Doug Raymond authored an article for Directors & Boards titled “Political Pressure Builds for Companies to Increase Board Diversity.” The article explores the second phase of New York City Comptroller Scott Stringer’s Boardroom Accountability Project, which will focus on board diversity and qualifications. Elisabeth Fiordalisi assisted with the preparation of this column.

Doug and Elizabeth wrote that the new Boardroom Accountability Project 2.0 initiative is likely to accelerate the push for increased diversity in considering board composition, but added that boards should always look to the most qualified directors, not merely those with specific resumes. Doug added that there is not a one-size-fits-all approach to creating a diverse and effective board, and that directors must carefully evaluate their boards’ strengths and weaknesses, looking for areas where increased diversity of opinion and background would be important.