The Wall Street Journal Quotes Kerry Berchem on Diversifying of Corporate Boards
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The Wall Street Journal has quoted Akin corporate & finance partner Kerry Berchem in its article “Amid Push to Diversify Corporate Boards, Change Is Slow.”
The article notes that, while big-companies have prioritized boardroom diversity in recent years, studies show that, over the last year, corporate boards turned less frequently to directors who previously served as CEOs and the previous rapid increase in naming diverse directors slowed down as well.
With limited opportunities to change the composition of public company boards – which typically average less than a dozen seats – companies are weighing priorities to fill those seats and are placing a larger emphasis on the skills and experience that newly appointed directors can provide, according to WSJ.
Kerry states that, in response to investor interest, many boards have focused on directors with securities filing skills and experience. She added, “It used to be: I’m a trucking company so I don’t have to worry about cyber. But that’s not the case; everybody has to worry about it now.”
