Is a Diversity Policy Really Necessary?
Explanation
Boards function as decision-making and review forums involving people with differing skills and approaches. Diversity of skills and styles leads to better balanced and informed decision-making.
Recommendation
In reviewing board composition, the board should be aware of the benefit of diversity in its selection as well as any applicable regulatory/legal requirements regarding board diversity. A policy need not be codified to be effective, but it may be helpful to have a written diversity policy to further the selection process.
