Today’s Wall Street Journal features a right-hand page, above the fold article, “Female Directors: Why so few?” The article starts off by sharing the research that diverse boards produce significantly better returns. Within the article two organizations are quoted for their response to increase diversity on their board. Urban Outfitters board responds to a resolution to actively pursue female & minority candidates by stating that the resolution “could impede its ability to select the most suitable & qualified candidate.” While Dollar General CEO says that, Over time, we fully intend to have women represented on our board.”
The reality is, if these boards want to increase their diversity they need to broaden their networks. When you keep fishing in the same pond, you are going to catch the same fish. There are many talented diverse leaders in the marketplace, and there are resources to help identify them.