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In this issue
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Actions and Initiatives to Increase Board Diversity
Despite the fanfare around diversity, equity and inclusion (DEI), the corporate boardroom remains one of the least diverse environments in America. From 2010 to 2018, the representation of people of color on corporate boards increased from 12.8% to just 16.1%, an annual growth rate of less than half a percent, according to the Alliance for Board Diversity.
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Letter from the Chairman: Fellow Directors
Thanksgiving is America’s secular holiday that offers us the opportunity to reflect on what matters most in our lives. For 30 years Caro and I have hosted about three dozen family and friends, but because of COVID-19, this year’s celebration was unlike any other. We had 17 of our immediate family seated 6 feet apart, outside in a heated tent overarching our outdoor patio. But some things remained the same. We gave thanks for the safety, health and happiness of our family and friends, and we were grateful to have three generations of Rocks at our home.
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Editor's Note: Friedman Was Right
As this is the 50th anniversary of Milton Friedman’s seminal article in The New York Times Sunday Magazine arguing for the notion of shareholder primacy in corporate affairs, and the first anniversary of its repudiation by the Business Roundtable (BRT), some observations are in order. Friedman was not the first to articulate the point. It dated back many years and was most cogently argued by the Michigan Supreme Court in its now legendary 1919 opinion in Dodge v. Ford Motor Company.
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Where Values Meet Value Creation: Foundations for Character-Driven Compensation
In an evolving governance environment, expressions of strong corporate character — exemplary corporate governance, responsible stewardship of the environment and positive contributions to society — are no longer nice-to-haves. They are increasingly becoming explicit expectations.
Past issues you might be interested in
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2019 Annual Report
Directors & Boards Magazine—2019 Annual Report
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2019 Second Quarter
Directors & Boards Magazine—2019 Second Quarter
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2019 First Quarter
Directors & Boards Magazine—2019 First Quarter
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2018 Annual Report
Directors & Boards Magazine—2018 Annual Report