Treasurer Magaziner, Investors in Northeast, Launch Board Diversity Initiative
October 23, 2019: Rhode Island Treasurer Seth Magaziner, along with institutional investors from states across the region, today announced the Northeast Investors’ Diversity Initiative, a regional partnership dedicated to increasing corporate board diversity—inclusive of gender, race, and ethnicity—at companies headquartered in the Northeast.
“An increasing body of research shows that companies with stronger diversity at the senior level tend to outperform those companies that lack diverse leadership teams,” said Rhode Island General Treasurer Seth Magaziner. “As long-term investors we believe that board diversity, inclusive of skills, gender and ethnicity is an important consideration as we work to protect shareholder value and maximize returns for our members.”
With a total of more than $283 billion in assets under management, the investor coalition intends to leverage their corporate relationships and shareholder rights to encourage boardroom diversity and inclusion.
