You've GOT to be Kidding Me!

If this is the kind of thinking widely represented on corporate boards, no wonder our economy is in such trouble. The lack of logic is mind-boggling!

The search firm, Heidrick & Struggles and the University of Southern California surveyed directors of publicly traded companies. More than 55% said they would not want to diversify their boards by increasing minority representation. Here's where the lack of logical thinking comes in:

"...while there is little commitment to increasing representation on the board, many directors (82 percent) recognize that having a diverse board can be beneficial to the company because diversity contributes to a broader range of decision options for consideration."

Let's see if I understand. They're saying they know diverse boards are good for business, but >55% of them don't want to diversify. Who's holding directors accountable?

On another note, among the <45%> who...

"...would like to increase board diversity, 30 percent of them are giving special consideration to women, 21 percent to African Americans, 17 percent to Hispanics/Latinos and nine percent to Asian Americans."
If you dare, you can read more about the September, 2008 study, you'll find it here.


Elaine at Lipstickdaily said...

Unbelievable . . . even in the face of stats like those reported in Women Mean Business that boards with a higher representation of women have a proven higher ROI and ROE!

Susan Colantuono said...

Hey, Carol. I tried to publish your comment, but blogger deleted it instead. Please repost. THX Susan