Institutional Investors and Proxy Advisors Raise the Bar on Board Diversity Standards in 2023

October 2022
Region: Americas

Four Best Practices for Successfully Completing Your High Jump

As businesses are emerging from a COVID-19-focused environment and returning to office related challenging issues linger, such as global supply chain concerns, economic struggles and labor shortages. Despite these ongoing challenges and the corresponding shifts in strategic priorities in recent years to address them, for many companies, the diversity of its board of directors remains an unwavering corporate focus. As boards adjust to the post-COVID-19 world, they should also reassess their diversity efforts to align with the “new normal,” particularly as certain institutional investors and proxy advisors phase in diversity standards, some of which become more stringent in the upcoming year.

In this Alert, we share four practical tips for successfully clearing the heightened bar of board diversity standards.