Goldman Sachs Won’t Take Companies Public If They Have All-Male Corporate Boards

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Goldman Sachs CEO David Solomon says the investment bank won't take companies public unless they have at least one 'diverse' board member:

The real reason we should want diverse corporate boards is that all-male and all-white boards are a huge red flag for bias. With the diverse pool of talent available, the likelihood that an organization completed an unbiased search process and still randomly ended up with an all-male and all-white board is almost zero. In other words, if the corporate board is all male and all white, there is likely bias somewhere in the appointment process.

It’s not clear whether Goldman will have to turn away much business due to their new policy. The CEO suggested that Goldman could tap its own network should a client be in search of a diverse board member. But Goldman is highlighting the importance of diversity and holding those companies without diverse boards accountable. That’s how change happens.

 

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Goldman Sachs to insist that companies it takes public have diverse boardsGoldman Sachs will not take companies public in the U.S. and Europe unless they have at least one “diverse” candidate on their board . We need to get off this communist ideology of a quota system All I see is a giant white head. This is scary a bank telling you do it our way or the highway Also diversity is a dog whistle for racism against whites
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The CEO Of Goldman Sachs Says The Bank Won’t Take Companies Public Unless There Is At Least One ‘Diverse’ Board MemberGoldman Sachs CEO David Solomon announced Thursday that the investment bank will only take companies public if they have at least one “diverse” board member, with a focus on women.
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