NYC Comptroller Scott Stringer announced the results of his and the New York City Retirement Systems' October 2019-launched Boardroom Accountability Project 3.0, which calls on companies to adopt a "Rooney Rule" policy, i.e., a policy requiring the consideration of both women and people of color, for every open board seat and CEO position (reported on here). According to the release, of 17 companies targeted with shareholder proposals for the 2020 proxy season, 13 companies (identified in the release) agreed to and publicly disclosed responsive board and CEO diversity search policies that require the board to consider women and racially/ethnically diverse candidates for director and external CEO searches. The 17 companies are among the 56 companies reportedly targeted in October 2019.
See this Sullivan & Cromwell memo, this Pensions & Investments article: "NYC reaches deal on seeking board, CEO diversity at 13 companies," and our recent report: "NYC Comptroller Reports on Boardroom Accountability Project & More." This post first appeared in the weekly Society Alert!