Expanding Diversity in the Boardroom

The business case for expanding diversity at the board level is clear as research has shown that board diversity correlates positively with profitability. Shifting demographics and the expanding global economy make it a competitive necessity for boards to improve diversity to succeed in this new paradigm. Sarbanes-Oxley and the resultant need for corporations to seek independent directors provide corporations with a unique opportunity to tap the diverse talent pool that has thus far been underutilized. The panel notes that corporations must make a proactive effort in order to effectively recruit diverse directors and several pointers to do so were offered during the session.