Feb. 7, 2019
By Walt Williams
Consider joining CEO Update. Membership gives full access to the latest intelligence on association management, career advancement, compensation trends and networking events, as well as hundreds of listings for senior-level association jobs.
The U.S. Chamber of Commerce is backing a proposed law that would require public companies to disclose the diversity of their corporate leadership.
The legislation by Rep. Gregory Meeks (D-N.Y.) would require companies to annually disclose the gender, race, ethnicity and veteran status of their board of directors, nominees for board positions and senior executive officers. A companion bill was introduced in the Senate by Sen. Bob Menendez (D-N.J.).
In a letter to Meeks, Chamber Senior Executive Vice President Suzanne Clark said the bill “would establish a model to organically boost diversity on boards, rather than the counterproductive quota-driven strategies that some jurisdictions have attempted.”
“Your legislation would also increase transparency at companies by requiring them to disclose diversity plans as well as the gender, race, ethnicity, and, relatedly and importantly, veteran status of their boards, nominees and directors,” Clark added. “The bill would also establish a private sector advisory group to establish best practices on how to disclose this information.”
The NAACP, Urban League and Council for Institutional Investors have also endorsed the bill, according to a statement by Meeks.
MORE CEO DATELINE