(Reuters) - Goldman Sachs Group Inc on Thursday raised the number of diverse directors it wants on portfolio company boards, citing rising shareholder expectations and more demographic data showing who is who.Starting in March, Goldman Sachs Asset Management will expect companies whose shares it owns to have at least 10% of their directors be women, unless there is a higher local minimum requirement, said Catherine Winner, head of stewardship for the division managing about $2 trillion, in an interview.
At a board with between 11 to 20 directors, for instance, that would mean at least two women, an increase from Goldman`s Goldman`s prior requirement that boards have at least one woman.
In addition, Goldman will require companies in the S&P 500 and FTSE 100 to have at least one director from an under-represented ethnic minority group. In last year`s guidelines, Goldman had stopped short of such an explicit requirement because of challenges around obtaining details about directors` race or ethnicity....
Share this article on you social outlets
Our Sponsors
- - Volume: 24 - WEEK: 18 Date: 5/3/2024 8:17:58 PM -