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SEC Chair Advocates for Female Board Members

SEC Chair Mary Jo White stressed the importance of boardroom diversity in a recent speech, specifically focusing on the need for female representation. White discussed her personal background and experience with lack of diversity and highlighted studies showing the underrepresentation of women in the boardroom. Specifically, White noted that studies show that 10 percent of U.S. boards had no female members and only three percent of board chairs were women. White also cited studies that show that a diverse board is a strong board that can increase shareholder value. Calling on companies to work harder to increase the number of women serving on boards, White argued that the lack of female representation on boards was a result of lack of demand rather than a lack of highly qualified candidates.