Nasdaq seeks mandatory rule on board diversity for companies

[Zor_Champ]

The Nasdaq stock exchange is seeking U.S. authority to require more diversity in the boardrooms of Nasdaq-listed companies, or for those companies to explain why they can not.

It is the first major exchange to pursue such a requirement.

The proposal filed with the U.S. Securities and Exchange Commission on Tuesday, if approved, would require all companies listed on the exchange to publicly disclose consistent, transparent diversity statistics about their board of directors.

It would require most Nasdaq-listed companies to have, or explain why they don’t have, at least two diverse directors.

This includes having one board member who self-identifies as female and one who self-identifies as either an underrepresented minority or LGBTQ.

https://apnews.com/article/business-board-of-directors-38bceb1f1579518b5b1d97df5b029569

 

[tomorton]

A historic step along the road - towards irrelevance and mediocrity.

From where I am in the UK, I'm wish the EU had done this first. But then, their exchanges are already almost irrelevant anyway.

 

[FortuneTeller]

Why does this "diversity" idea have to be based only on sexual desire, skin color or gender? Why not the height of a person?

I think there should be at least one midget/dwarf on every board. Or maybe they are included in the underrepresented category?

 

[ValeryN]

Diversity on a board level is the probably the easiest level to achieve it at, if looking at company structure overall.

Board doesn't tell business what to do and it doesn't execute. They provide oversight. It is way easier to get diverse board members than executive/management team or some specialized depts.

Val

 

[VEGASDESERT]

Major overstep.

No explanation needed.

 

[d08]

"Alright boys, we're going to vote, who shall we volunteer to identify as female".

 

[zdreg]

"Alright boys, we're going to vote, who shall we volunteer to identify as female".

Remember that poster who was working for a hedge fund, who claimed he was being fed female hormones by his manager. He gets my vote because he can be listed under two categories. It makes a lot easier for the co. to meet the requirements.

 

[Nobert]

"Alright boys, we're going to vote, who shall we volunteer to identify as female".

timestamped

 

[JSOP]

The Nasdaq stock exchange is seeking U.S. authority to require more diversity in the boardrooms of Nasdaq-listed companies, or for those companies to explain why they can not.

It is the first major exchange to pursue such a requirement.

The proposal filed with the U.S. Securities and Exchange Commission on Tuesday, if approved, would require all companies listed on the exchange to publicly disclose consistent, transparent diversity statistics about their board of directors.

It would require most Nasdaq-listed companies to have, or explain why they don’t have, at least two diverse directors.

This includes having one board member who self-identifies as female and one who self-identifies as either an underrepresented minority or LGBTQ.

https://apnews.com/article/business-board-of-directors-38bceb1f1579518b5b1d97df5b029569

1) That is unconstitutional. Against Freedom of Speech. 2) It is against the Equality of Application. Does this rule apply to all colors and races? What if it's a Chinese company with all board of director members as Chinese? Is Nasdaq going to require at least 2 members of the board to be non-Chinese? What if it is a company with all of the board of directors of African descent? Is Nasdaq going to require at least two board members to be Caucasians? What about companies from the Middle East and Russia where homosexuality is a crime even punishable by death? Is Nasdaq going to force somebody to come out and risk being stoned to death in those middle east countries?

This is hypocritical and overkill and it's ridiculous!

 

[JSOP]

"Alright boys, we're going to vote, who shall we volunteer to identify as female".

Or dig in your family tree and find a "diversity" great-great-great-grandparent somewhere.