The future is female! State Street Global Advisors is rolling out a campaign to pressure companies to add more women to their boards. To underscore its objective, the world’s third-largest asset manager installed a bronze statue of a defiant girl in front of Wall Street’s iconic charging bull statue.
State Street said it would vote against boards if a company failed to take steps to increase its number of members who are women. It’s asking 3,500 companies to act.
The money manager has cited gender diversity as a way to improve company performance and increase shareholder value. The lack of women on boards has long been a problem.
“There has been a lot of discussion on this topic, but the needle hasn’t moved materially,” Lori Heinel, State Street’s deputy global chief investment officer, told Business Insider after the statue’s installment.
via Business Insider