NYC Comptroller Scott Stringer and the NYC Pension Funds reported on the status of their Boardroom Accountability Project (BAP) 2.0 board diversity-focused campaign (most recently reported on here).
Of the 151 companies initially targeted by the campaign:
- ~80% responded to the Comptroller's BAP 2.0 letters.
- Since September 2017, more than 85 companies have substantively engaged with the Comptroller's Office and have adopted "improved processes and increased transparency regarding board quality, diversity and refreshment."
- More than 35 targeted companies are now disclosing director gender and racial/ethnic diversity details.
- 49 of the targeted companies have elected 59 new women or African American/Hispanic/Asian American directors.
The release further notes that the Funds withdrew five of six shareholder proposals this proxy season calling for mandatory board diversity disclosure after reaching agreements with the companies on satisfactory disclosure.
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See also this article from The New York Times, and additional information and resources on our Institutional Investors and Board Diversity pages. We first reported on this Boardroom Accountability update in last week's Society Alert!
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