SSGA Expands Push for Board Diversity
November 15, 2017 | posted in Corporate Governance
State Street Global Advisors recently announced that it will expand its efforts to push for greater gender diversity on boards. The asset manager began this initiative in 2017, targeting companies in the US, UK and Australia. In this latest announcement, they stated they will begin applying the same focus on boards in Canada and Japan in 2018.
In 2017, SSGA voted against director candidates at 400 US companies which currently have no women at all on their boards.
SSGA has identified Canada and Japan as two countries that have relatively low levels of female representation on company boards. Approximately one quarter of Russell 3000 presently have no female directors, compared to 40 percent of companies on the TSX and 55 percent of Japan’s TOPIX 500.