Goldman Sachs CEO David Solomon told CNBC that the investment bank wouldn’t take companies public unless the company had at least 1 “diverse” board member
The real reason we should want diverse corporate boards is that all-male and all-white boards are a huge red flag for bias. With the diverse pool of talent available, the likelihood that an organization completed an unbiased search process and still randomly ended up with an all-male and all-white board is almost zero. In other words, if the corporate board is all male and all white, there is likely bias somewhere in the appointment process.
It’s not clear whether Goldman will have to turn away much business due to their new policy. The CEO suggested that Goldman could tap its own network should a client be in search of a diverse board member. But Goldman is highlighting the importance of diversity and holding those companies without diverse boards accountable. That’s how change happens.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Goldman Sachs CEO On WeWork: ‘I’m Not Sure That We Got It So Wrong'Goldman Sachs CEO, David Solomon, defended the bank’s work on WeWork’s failed IPO, even after it cost Goldman $80 million by skleb1234
Read more »
Goldman Sachs' new rule: At least 1 woman on the board or you can't go publicGoldman Sachs won't take companies public anymore unless they have at least one 'diverse' board member, the bank's CEO David Solomon said Thursday.
Read more »
Goldman Sachs to insist that companies it takes public have diverse boardsGoldman Sachs will not take companies public in the U.S. and Europe unless they have at least one “diverse” candidate on their board .
Read more »
Goldman Sachs CEO says no IPOs for companies without at least one 'diverse' board member starting in July | Markets InsiderGoldman Sachs CEO David Solomon said Thursday in an interview with CNBC in Davos, Switzerland that starting in July, the bank won't help compani...
Read more »
Goldman Sachs to insist that companies it takes public have diverse boardsGoldman Sachs will not take companies public in the U.S. and Europe unless they have at least one “diverse” candidate on their board .
Read more »
Goldman Sachs' new rule: At least 1 woman on the board or you can't go publicGoldman Sachs won't take companies public anymore unless they have at least one 'diverse' board member, the bank's CEO David Solomon said Thursday.
Read more »