Yesterday Pennsylvania and Massachusetts announced that they dislike white, male boards, too. Not only that but they also added new powers to proxy voting, so that nearly a trillion dollars in pension funds is now at stake for those companies, which refuse to diversify their boards.
“We essentially own corporate America, and not the other way around,” said Massachusetts State Treasurer Steven Grossman in an interview with Bloomberg Businessweek. “We cannot go hat in hand to corporate CEOs and suggest that it would be a ‘nice’ thing if they would increase the number of women. It’s not about being nice.”
You said it, Steve!