The $578 Billion Push for Boards With More Than Just White Men
- More funds are looking at race, gender as investing criteria
- Apple stockholders vote on leadership composition next month
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Tony Maldonado was just 15 when he posed a question that’s nettling some deep pockets in the stock market: “How come everyone on the board is white?”
While surfing the Web three years ago, the teenager discovered the board at Apple Inc., like the boards of many major corporations, was, as his dad puts it, a bit “vanilla.” Apple does have an African-American man and an Asian-American woman on its eight-person board, but, on Feb. 26, stockholders will vote on a milestone resolution pushing for even more racial diversity among its leaders. Maldonado’s father, also Tony, sponsored the plan, the first of its kind in the U.S.