Nasdaq seeks to require companies to have at least one woman and one minority or gay director

Nasdaq on Tuesday moved to require that companies on its exchange include a woman and a person of a minority racial background or sexual orientation on their boards of directors.

“This proposal and partnership gives companies an opportunity to make progress toward increasing representation of women, underrepresented minorities and the LGBTQ+ community on their boards,” said Nelson Griggs, president of Nasdaq Stock Exchange, in announcing the proposal.

Listed companies would have to include “one who self-identifies as female and one who self-identifies as either an underrepresented minority or LGBTQ+,” according to the company’s press release.

This rule would not apply to foreign companies or smaller reporting companies, but they would have to include at least two female directors.

Nasdaq filed the proposal wi... (Read more)

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