Trillium Commends Wisdom Tree for Strengthening Director Recruitment and Expanding Board Diversity
Boston, MA // (April 30, 2019) – Trillium Asset Management is pleased to announce the successful withdrawal of its board diversity shareholder proposal at Wisdom Tree Investments. (NASDAQ: WETF). In exchange for the withdrawal in February, the Board of Directors agreed to amend its Corporate Governance Guidelines and 2019 proxy statement to include consideration of gender, race, ethnicity, age, sexual orientation, gender identity and expression when seeking Board candidates and commit to actively seek out highly qualified women and people of color.
Importantly, we commend the company for appointing Susan Cosgrove to serve as director. Ms. Cosgrove, appointed in April, has a proven record of accomplishment in finance, compliance and accounting. Joining as the company’s first woman director, she brings diverse perspective and skillsets to its ranks.
Positive financial performance consistently correlates with greater diversity in boardrooms and C- suites. Women were appointed to nearly one-third of new director openings in 2017; yet more work needs to be done. Women and people of color account for approximately 20 percent and 11 percent of S&P 1500 directorships, respectively.
We are pleased with the productive and collaborative dialogue we had with Wisdom Tree’s senior leadership. Susan Cosgrove’s appointment demonstrates the Board’s ongoing commitment to good governance.
Contact: Susan Baker, Trillium Asset Management, email@example.com
Important Disclosure: This is not a recommendation to buy or sell any of the securities mentioned. It should not be assumed that investments in such securities have been or will be profitable. The specific securities were selected on an objective basis and do not represent all of the securities purchased, sold or recommended for advisory clients.