Comptroller DiNapoli and the Fund believe that diversity in the boardroom and workplace is an essential measure of sound corporate governance. Research shows that the ability to draw on a wide range of viewpoints, backgrounds, skills and experience is increasingly critical to corporations’ long-term success in the global marketplace.
Comptroller DiNapoli urges the public companies in the Fund’s portfolio to amend their nominating committee charters to make consideration of diversity—including diversity of sex, race, ethnicity, sexual orientation and gender identity—a requirement when seeking board director candidates.
The Fund will vote against all incumbent board directors at companies with no women board members. If a company has just one woman board director, the Fund will vote against all incumbent members of its governance and nominating committees.
Non-Discrimination and Inclusion
The Fund believes that companies must draw on the widest possible pool of talent to grow their businesses, and that having policies in place to protect and encourage a diverse workforce is critical.
Comptroller DiNapoli has taken a comprehensive approach to shareholder engagement with companies on the topic of amending corporate equal employment opportunity policies to include explicit bans on discrimination based on sexual orientation and gender identity. Additionally, the Comptroller has pressed companies to report on their commitments to including people with disabilities across their workforces. Companies need strong policies to ensure their workforces are inclusive of people with disabilities or they risk missing out on an enormous pool of talented employees.