Goldman Sachs Asset Management announced a more expansive board diversity policy that will call for at least one diverse director from an underrepresented ethnic minority group on all S&P 500 and FTSE 100 boards, and – subject to specific exceptions - at least two women directors on all public company boards globally, from and after March 2022. Boards with fewer than 10 directors or subject to more stringent gender diversity regulatory requirements will not be subject to the updated board diversity policy. Failure to meet the new diversity expectations will prompt a vote against the nominating committee. US boards without any women will garner a “no” vote against the entire board.
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