Nasdaq Seeks Board-Diversity Rule That Most Listed Firms Don’t Meet

Nasdaq Seeks Board-Diversity Rule That Most Listed Firms Don’t Meet

"Nasdaq Inc. is pushing to require the thousands of companies listed on its stock exchange to include women, racial minorities and LGBT individuals on their boards, in what would be one of the most forceful moves yet to bring greater diversity to U.S. corporations.

The exchange operator filed a proposal with the Securities and Exchange Commission on Tuesday that would require listed companies to have at least one woman on their boards, in addition to a director who is a racial minority or one who self-identifies as lesbian, gay, bisexual, transgender or queer. 

Companies that don’t meet the standard would be required to justify their decision to remain listed on Nasdaq...Read all.