IPG Photonics Corp– Diversity Goals (2023) — Issue Type =
Outcome: Successfully withdrawn following the company committing to set “meaningful” minority and gender diversity targets for managers and above, and process commitments, including a guarantee of interviewing a minimum of two diverse candidates for open U.S. management positions and meeting with The Boston Club to discuss available resources.
Outcome: Successfully withdrawn following the company committing to set “meaningful” minority and gender diversity targets for managers and above, and process commitments, including a guarantee of interviewing a minimum of two diverse candidates for open U.S. management positions and meeting with The Boston Club to discuss available resources.
IPG Photonics – Board/Executive Diversity (2021) — Issue Type =
Outcome: Subsequent to a high 45% vote for our proposal on executive leadership diversity in spring 2020, we refiled in Fall 2020 after additional attempts for dialogue failed. In December, IPG reached out to us after publishing its first comprehensive CSR report. In the report the company states that “the diversity of our executive team does not yet reflect that of our workforce.” The report discloses that women, for example, comprise 30% of its board, 35% of its workforce and 22% of the top three EEOC categories, yet are not represented at the most senior level. Initiatives to expand diversity include a focus on hiring with a requirement that search firms seek female and diverse candidates, closing the promotion gap by developing internal candidates for executive openings, formalizing board oversight, among other initiatives. As a result of these disclosures and commitments we withdrew the proposal.
Outcome: Subsequent to a high 45% vote for our proposal on executive leadership diversity in spring 2020, we refiled in Fall 2020 after additional attempts for dialogue failed. In December, IPG reached out to us after publishing its first comprehensive CSR report. In the report the company states that “the diversity of our executive team does not yet reflect that of our workforce.” The report discloses that women, for example, comprise 30% of its board, 35% of its workforce and 22% of the top three EEOC categories, yet are not represented at the most senior level. Initiatives to expand diversity include a focus on hiring with a requirement that search firms seek female and diverse candidates, closing the promotion gap by developing internal candidates for executive openings, formalizing board oversight, among other initiatives. As a result of these disclosures and commitments we withdrew the proposal.
IPG Photonics – Executive Leadership Diversity (2020) — Issue Type =
Outcome: 45%
Outcome: 45%
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