Applicants with the skills and experience to be a candidate for a director’s seat can submit their profiles at www.GMI3D.com. Once a pool of talent is established, shareowners, companies, diversity Groups, and other organizations will be able to use the Diverse Director DataSource – “3D” – to recruit potential board directors.
The DataSource was conceived by the California Public Employees’ Retirement System (CalPERS) and the California State Teachers’ Retirement System (CalSTRS). According to a press release, GovernanceMetrics International (GMI), an independent provider of global corporate governance ratings and research, was commissioned to develop the database earlier this year. It is now owned and maintained by GMI.
California State Controller John Chiang spearheaded an effort to raise diversity among corporate boards. Chiang is a Board Member of each pension fund. 3D was developed with the help of corporate governance experts, institutional investors, companies, search firms, and academics. GMI took ownership and control of it earlier this year.
“With this initiative, the institutional investor community is creating an important opportunity to expand the pool of qualified corporate directors beyond the traditional boundaries,” said Douglas Chia, Assistant General Counsel and Corporate Secretary, Johnson & Johnson, in the announcement. “This is a resource for those companies that understand that board diversity will give them certain strategic advantages.”
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