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New York pension fund will vote against boards with no women directors

Joe Mont | April 6, 2018

New York State Comptroller Thomas DiNapoli has announced that the New York State Common Retirement Fund plans to vote against all board directors standing for re-election at companies that have no women on their boards.

In situations where a company has just one woman on its board, the fund will vote against members of the board's governance committee standing for re-election. DiNapoli also recently announced agreements with four Fortune 500 companies to formally include gender and racial diversity in their considerations of board candidates.

“It is unconscionable that hundreds of publicly-held U.S. companies have no women directors,” DiNapoli said in a statement. “We're putting all-male boardrooms on notice: Diversify your boards to improve your performance.”

“There is ample research that board diversity benefits companies,” he...

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