Diversity Rules Magazine

20| Diversity Rules Magazine |May 2023 Today, Out Leadership released its third annual Out- QUORUM report, LGBTQ+ Board Diversity: Progress & Possibility, showing for the first me in history more than half of all Nasdaq-listed companies now have board diversity policies covering LGBTQ+, gen- der, race, ethnicity, and na onal origin. The rate of companies with LGBTQ+ inclusive board policies rose an astonishing 1,556% over the last year alone. Addi onal key findings included in today's report: 50% of Nasdaq companies now have LGBTQ+ in- clusive board policies – a record-sha ering 1,556% increase in one year (113 in 2022, compared to 1,871 in 2023). 61% of Nasdaq companies now have gender-inclu- sive board diversity policies, a 206% jump since last year (750 in 2022, compared to 2,298 in 2023). 59% (2,197) Nasdaq companies now have inclusive board policies based on race, a 318% increase since 2022 (526). The 2023 OutQUORUM report also shares for the first me data on LGBTQ+ board inclusion across the global stock exchanges of the FTSE, the ASX, and the Hang Seng. Less than a year a er the SEC-approved Nasdaq board diversity disclosure requirement went into effect and months before the upcoming December 2023 dead- line, today's report is the first me all Nasdaq com- panies have been mapped on their policies since the SEC approved the new requirement. Addi onally, the new report also maps board diversity policies for the en re Fortune 1000 and, for the first me, global ex- changes in the United Kingdom, Australia, and Hong Kong. "Today's report is a clear indicator that execu ves are responding to the opportunity to expand the diver- sity of their boards, and fully embracing the power of inclusion to fuel their companies' success in today's marketplace," said Todd Sears, founder and CEO of Out Leadership. "When we started this journey nine years ago, board policies weren't inclusive, global exchanges didn't acknowledge LGBTQ+ leaders, and there was no data. Simple, pragma c solu ons, like Out Leadership's crea on of LGBTQ+ board diversity policies and our OutQUORUM data which measures poten al gaps, have driven tremendous progress here in the United States and around the world since. We're proud to share today's global report which shows that for the first me in history, over half of all Nasdaq companies have adopted board diversity policies – and done so at a record-breaking pace. We look forward to working with the other exchanges and companies around the world to con nue this ex- ci ng momentum." The third-annual OutQUORUM report, LGBTQ+ Board Diversity: Progress & Possibility, was released today during Out Leadership's 2023 Board Diversity Sum- mit hosted by KPMG and Egon Zehnder in New York City. Out Leadership is the premier global pla orm u lized for over thirteen years by many of the world's greatest companies, nonprofits, and governments to drive equality through business. It's 2021 report was the first-ever to measure LGBTQ+ inclusive corporate board diversity and in 2020 Nasdaq cited Out Leader- ship's research their proposal for approval by the SEC of their board diversity disclosure requirement. "Board diversity is not a luxury. Our complex business environment absolutely demands that boards look at issues through mul ple lenses, requiring a mix of tal- ented directors with different skill sets, backgrounds, and life experiences," said Susan Angele, Senior Advi- sor, Board Governance, KPMG, a sponsor of today's report. "The work of Out Leadership has been invalu- able in advoca ng for LGBTQ+ inclusion in board di- versity policies and disclosures and driving awareness of the current metrics and the road ahead." "We are witnessing a global movement toward diver- sity and inclusion at the board level, but progress can- not be taken for granted," said Michael Ensser, Chair of Egon Zehnder, a sponsor of today's report. "It has taken hard work and resistance to drive meaningful change and get to where we are. Yet, the LGBTQ+ community remains significantly underrepresented Board - Con't on page 21 Nasdaq and Fortune 1000 Companies Setting Record-Breaking Pace on Board Diversity Board Diversity report shows Nasdaq companies with LGBTQ+ inclusive board policies rose 1,556% over the last year

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