Nasdaq’s new Diversity has proposed a new listing requirement for it’s US Stock Exchange, which includes a required disclosure of the diversity statistics of any board listed with them.
Any company with fewer than two directors who self identified as an underrepresented minority or LGBTQI+ must provide an written explanation as to why this is the case — or they may risk being delisted.
Do encourage this, they’ve outlined a gradual, tiered timeframe which gives companies two years after their SEC approval to have at least one diverse director, then another two to three years to add their second diverse director.
Considering tech — an industry that shows slower movement towards diversity, especially at senior levels — is a big element of Nasdaq’s stock mix, this proposal has been praised as a move to boost the “see it to be it” effect of diverse talent pools.
Read the full article by Michelle Bogan for Forbes here to explore why this matters for the global diversity agenda: