Ormat Technologies – Executive Leadership Diversity (2020)
WHEREAS: We believe that diversity, inclusive of gender and race, are critical attributes of a well-functioning executive team and necessary to meaningfully drive diversity throughout an organization. Currently, Ormat’s management team has no woman and an undeterminable number of people of color. The business case for workforce diversity is compelling. McKinsey & Company, found in 2015, and in a larger study in 2017 that highly diverse executive teams had higher returns on equity and earnings performance than those with low diversity. ISS Analytics examined companies where the CEO had a tenure of at least three years, and found companies that …
Tractor Supply Company – Executive Leadership Diversity (2020)
WHEREAS: We believe that diversity, inclusive of gender and race, are critical attributes of a well-functioning executive team and necessary to meaningfully drive diversity throughout an organization. Currently, Tractor Supply Company’s executive officer team has no woman and an undeterminable number of people of color in leadership roles. Compared to its peers, sixteen percent of non-CEO executives in the S&P1500 consumer discretionary sector are women. Nine percent of top executive roles in the Russell 3000 are held by women. The business case for workforce diversity is compelling. McKinsey & Company found in 2015 and 2017 studies that highly diverse executive …
SVB Financial Group – Executive Leadership Diversity (2020)
WHEREAS: We believe that diversity, inclusive of gender and race, are critical attributes of a well-functioning executive team and necessary to meaningfully drive diversity throughout an organization. Currently, Silicon Valley Bank leadership team has limited racial and ethnic diversity representation. The business case for workforce diversity is compelling. McKinsey & Company, found in 2015, and in a larger study in 2017 that highly diverse executive teams had higher returns on equity and earnings performance than those with low diversity. ISS Analytics examined companies where the CEO had a tenure of at least three years, and found companies that combined gender …
Newell Brands – Executive Leadership Diversity (2019)
WHEREAS: We believe that diversity, inclusive of gender and race, are critical attributes of a well-functioning executive team and necessary to meaningfully drive diversity throughout an organization. Currently, Newell Brands has limited racial/ethnic diversity on its Management Committee and Extended Leadership Committee. Two of the eighteen committee members are women. The business case for workforce diversity is compelling. A growing body of research indicates a positive relationship between firm value and the percentage of women and minorities in senior leadership roles. A McKinsey & Company report found that companies in the top quartile for gender or racial ethnicity are more …
Alphabet, Inc. – Senior Executive Diversity (2019)
WHEREAS: Studies suggest that companies that integrate environmental, social, and governance (ESG) factors into business strategy reduce reputational, legal, and regulatory risks and improve long-term performance. Leading companies have integrated sustainability metrics into executive pay plans, among them Unilever and Walmart. The UN Principles for Responsible Investment (2012) states that considering ESG factors in compensation can help protect long-term shareholder value. Diversity, inclusion, and equity are key elements of sustainability. McKinsey research shows that companies in the top quartiles for gender and racial diversity were more likely to have above average financial returns (“Diversity Matters,” McKinsey, 2015). Yet technology companies …
Wisdom Tree Investments – Board Diversity (2019)
WHEREAS: Wisdom Tree Investments has no women on its Board of Directors and no women in its Executive Officer ranks. Its peers, Blackrock, T. Rowe Price, Invesco and E*Trade Financial each has two or more women directors. Numerous institutional investors believe that diversity on boards, as well as in senior management, is an indicator of good corporate governance. BlackRock, the world’s largest asset manager, published updated proxy voting guidelines earlier this year that stated, “we would normally expect to see at least two women directors on every board.” State Street Global Advisors reported in March 2018 that it voted against …
Carter’s, Inc. – Executive Leadership Diversity (2019)
WHEREAS: We believe that diversity, inclusive of gender and race, are critical attributes of a well-functioning executive team and necessary to meaningfully drive diversity throughout an organization. Currently, Carter’s has limited racial/ethnic diversity on the executive team. Despite the strong business case for cultivating a diverse workforce, white males continue to dominate executive roles at Fortune 500 companies. Carter’s does not disclose comprehensive workforce data, or disclose results of diversity initiatives. As a result, shareholders have insufficient information to determine if Carter’s has been successful in expanding diversity into senior roles over time. The lack of racial/ethnic diversity at the …
Ligand Pharmaceuticals – Board Diversity (2019)
WHEREAS: Ligand Pharmaceuticals has one woman on its Board of Directors, and the racial and ethnic diversity of the Board is unclear. Its peers, Merck, Eli Lily, and Roche Holdings each have three or more women directors. We believe that diversity, inclusive of gender and race, is a critical attribute of a well-functioning board and a measure of sound corporate governance. Corporate leaders recognize the strong business case for board diversity. The Guiding Principles of Corporate Governance of the Business Roundtable, state: “Diverse backgrounds and experiences on corporate boards, including those of directors who represent the broad range of society, …
Marathon Petroleum – Racial Diversity in Executive Leadership (2019)
WHEREAS: “We focus on building a diverse workforce by recruiting, hiring and promoting the most qualified candidates” – Marathon Petroleum We believe that diversity, inclusive of gender and race, are critical attributes of a well-functioning executive team and necessary to meaningfully drive diversity throughout an organization and to support strong community and employee relations. Currently, Marathon Petroleum has limited racial/ethnic diversity present on the executive team. Despite the strong business case for cultivating a diverse workforce, white males continue to dominate executive roles at Fortune 500 companies. MPC has made progress in acknowledging the value of diversity and inclusion, but …
Borg Warner – Diversity in Executive Leadership (2019)
WHEREAS: We believe that diversity, inclusive of gender and race, are critical attributes of a well-functioning executive team and necessary to meaningfully drive diversity throughout an organization. Currently, Borg Warner’s Strategy Board has one woman and an undeterminable number of people of color in leadership roles. The business case for workforce diversity is compelling. McKinsey & Company, for example, found in 2015, and in a larger study in 2017 that highly diverse executive teams had higher returns on equity and earnings performance than those with low diversity. ISS Analytics examined companies where CEOs had a tenure of at least three …
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