Board Diversity Increases.Ethnic minorities continue to make gains in corporate boardrooms, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. the 26th Annual Board of Directors Study conducted by Korn/Ferry International, New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. . Sixty percent of U.S. corporate boards now have ethnic minority directors. African-Americans are represented on 39 percent of all boards, up from 37 percent in the 1998 Korn/Ferry report; Latinos now sit on 12 percent of boards (the same as last year); while 9 percent of boards report having an Asian member, up from 6 percent in 1998. The good news for female directors is that many no longer serve alone. Twenty-five percent of companies now report having two women on their boards compared with 18 percent two years ago. Percentage gains for women, however, have leveled off with women now sitting on 73 percent of corporate boards. "Perhaps more important than the number of women and minority directors today is that many now hold important board posts, heading governance or nominating committees A nominating committee is a group formed usually from inside the membership of an organization for the purpose of nominating candidates for office within the organization. It works similarly to an electoral college, the main difference being that the available candidates, either ," observes Craig L. Fuller, chair of Korn/Ferry International's global board services practice. "These are powerful positions and ensure that the process of bringing greater diversity to boards is becoming more institutionalized in·sti·tu·tion·al·ize tr.v. in·sti·tu·tion·al·ized, in·sti·tu·tion·al·iz·ing, in·sti·tu·tion·al·iz·es 1. a. To make into, treat as, or give the character of an institution to. b. . "We are seeing a new blueprint blueprint, white-on-blue photographic print, commonly of a working drawing used during building or manufacturing. The plan is first drawn to scale on a special paper or tracing cloth through which light can penetrate. being created for boards," he adds. "The 21st-century board will be younger and more diverse. |
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