1 week ago
Goldman Sachs Inc. (NYSE:GS) is reportedly planning to remove diversity criteria from the selection process for its board members.
Activist Pressure Drives Goldman’s Board Overhaul
The Wall Street Journal, citing sources, reported that Goldman Sachs is set to eliminate factors such as race, gender identity, sexual orientation, and other diversity considerations from its board’s selection criteria. The decision is expected to be approved by the board this month.
This follows a request from the Virginia-based conservative activist nonprofit, the National Legal and Policy Center (NLPC). The minor shareholder in Goldman Sachs submitted a proposal last September to remove the diversity, equity, and inclusion (DEI) criteria.
According to the report, Goldman then informed NLPC that it planned to remove the DEI criteria, and both parties signed a formal agreement that included NLPC withdrawing its proposal.
The board’s governance committee is expected to approve the revised language this month, as per the report.
The global investment bank also ...
