PricewaterhouseCoopers (PWC) issued the following announcement on Oct. 12.
PwC’s 2021 Annual Corporate Directors Survey highlights stark differences in director views compared to prior years in the areas of ESG, diversity & inclusion (D&I) and linking executive compensation to non-financial goals. Directors are once again calling for more refreshment—with nearly half (47%) saying that at least one fellow board member should be replaced. And while they say their boards are prioritizing racial/ethnic diversity in their future board searches, many directors still have reservations about what’s driving board diversity efforts.
Directors recognize that active measures are needed to achieve greater board diversity —but still question the drivers
Directors are beginning to see board diversity in a new light. Last year, most directors (71%) believed that board diversity itself would happen naturally. Now, just 33% agree with that statement.
But despite increased support for board diversity, many directors are skeptical. A majority (58%) of directors say that board diversity is driven by political correctness—up six points from 2020. Directors are now also more likely to say that board diversity results in the nomination of additional unneeded (31%) or unqualified (27%) candidates.
Original source can be found here.
Source: PricewaterhouseCoopers (PWC)
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