U.S. Chamber Letter Supporting the Diversity in Corporate Leadership Act of 2019

Thursday, June 13, 2019 - 4:45pm

The Honorable Carolyn Maloney
U.S. House of Representatives
Washington, DC  20515

Dear Representative Maloney:

            The U.S. Chamber of Commerce supports the “Diversity in Corporate Leadership Act of 2019,” and we thank you for your leadership in supporting efforts to increase gender, racial, and ethnic diversity on corporate boards of directors.

            Diversity has become increasingly important to institutional investors, pension funds, and other stakeholders.  According to PwC’s 2018 Annual Corporate Directors Survey, 94% of board directors surveyed indicated that a diverse board brings unique perspectives, 84% responded that diversity enhances board performance, and 91% reported that their boards are taking steps to increase diversity.1

            The “Diversity in Corporate Leadership Act of 2019” would establish a model to organically boost diversity on boards through disclosure, rather than the counterproductive quota-driven strategies that some jurisdictions have attempted.  The legislation would also establish an advisory group that would carry out a study and provide recommendations on private sector strategies to increase gender, racial and ethnic diversity among boards of directors.  

            Thank you for introducing the “Diversity in Corporate Leadership Act of 2019.”  We look forward to working with you on this important issue. 

Sincerely,

Neil L. Bradley