Goldman Sachs to Refuse IPOs If All Directors Are White, Straight Men

The bank is the latest firm to eschew a lack of diversity in corporate governance.

The era of the white, all-male board is coming to an end.

Goldman Sachs Group Inc. Chief Executive Officer David Solomon issued the latest ultimatum Thursday from Davos. Wall Street’s biggest underwriter of initial public offerings in the U.S. will no longer take a company public in the U.S. and Europe if it lacks a director who is either female or diverse. Asia is not yet included in the firm’s new policy.

The mandate is the latest in a series of signals that non-diverse boards and management are unacceptable. BlackRock Inc. and State Street Global Advisors are voting against directors at companies without a female director. Public companies with all-male boards based in California now face a $100,000 fine under a new state law.

Goldman Sachs acknowledged that “diversity” has other meanings around the world — including in Asia, where racial dynamics are different and gender disparities are sometimes even more glaring. The company said in a statement Friday that it intends to eventually expand its board-diversity mandate beyond the U.S. and Europe.

Source: Bloomberg

David Michael Solomon was born circa 1962 in Hartsdale, New York to Jewish parents.

Source: Wikipedia

Gender Quotas on Corporate Boards

9 comments

  1. Pingback: (((ECHO))) | VikingLifeBlog
  2. tonytran2015 · February 12, 2020

    So how can Snow White and Seven Dwarves float their mining company in the present time?

    Liked by 2 people

  3. Pingback: Goldman Sachs to Refuse IPOs If All Directors Are White, Straight Men | VikingLifeBlog – Additional survival tricks
  4. vhallkrimvost · February 13, 2020

    “Goldman Sachs acknowledged that “diversity” has other meanings around the world — including in Asia, where racial dynamics are different and gender disparities are sometimes even more glaring. The company said in a statement Friday that it intends to eventually expand its board-diversity mandate beyond the U.S. and Europe.”

    Of course the next step after Europe and its off-shoots have been diluted and left to rot would be to move to Asia, particularly China to spread the creed of Politically Correct Libturd Thought Control.

    Liked by 2 people

    • Viking Life Blog · February 13, 2020

      Yes, they hate white people more than anything. East Asia would make sense, when looking at Arabs, Africans and South Americans.

      Liked by 2 people

  5. Pingback: Clown World 26 | VikingLifeBlog
  6. tlamn.wordpress.com · December 7

    BOOSH!

    Like

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s