Board Diversity in U.S. Corporations: Best Practices for Broadening the Profile of Corporate Boards
Three different working groups of senior corporate executives reached the following conclusions about corporate diversity efforts:
•Board diversity should be considered in the context of improving shareholder value.
•Shareholder value is strengthened when intangibles (e.g., diversity, workplace practices, and customer satisfaction) permeate a company.
•Diversity is a key part of good governance–boards should professionalize themselves to achieve the company’s strategic goals.
•Boards represent all shareholders—a diversity focus does not change that, but rather helps a board fulfill its duties and mission.
•Diversity should not be limited to gender and race—as companies internationalize, cultural diversity becomes increasingly important.