For Immediate Release
12 December 2024
New York – The Association of LGBTQ+ Corporate Directors disagrees with the decision by the Fifth Circuit Court to strike down Nasdaq’s Board Diversity Rule. Based on years of research, it is simply a fact that diverse boards outperform those that are less-diverse, and the Nasdaq Board Diversity Rule reflected evolving expectations from investors who would benefit from understanding a company’s board composition to evaluate their potential for long-term performance.
“While we regret the loss of this groundbreaking initiative, we reaffirm that the Association’s mission has always been about showcasing the exceptional talent and unique perspectives LGBTQ+ individuals bring to the boardroom” said Fabrice Houdart, the Association’s Executive Director. “Board diversity is not merely a box to check; it’s a pathway to better decision-making and innovation to drive corporate excellence. Our work will continue to focus on promoting LGBTQ+ leaders based on their extraordinary qualifications and contributions to corporate governance.”
This setback reinforces the competitive advantage of transparency for those companies who are ahead of the curve and have a firm grasp on the benefits of diversity for long-term growth. The Association will continue to work with companies to uphold the spirit of inclusion that Nasdaq championed, even without regulation. Together, we can continue to shatter barriers and advance toward better corporate boards.
Contact:
Fabrice Houdart
Executive Director
About the Association of LGBTQ+ Corporate Directors: The Association of LGBTQ+ Corporate Directors is dedicated to increasing LGBTQ+ representation on corporate boards by connecting exceptional talent with opportunities and showcasing the value of inclusive governance. You can learn more here.
Association of LGBTQ+ Corporate Directors Responds to Nasdaq Diversity Rule Repeal
