Amas Talks Podcast31 Juli 2023

What happened to board diversity? w/Adam Dumey

Summarization

- DEI is so commonplace that I don't know many organizations that don't have D.E.I initiative or department or leader. Are we making progress as the world, especially particularly the corporate boardroom and corporate America? Is it a very diverse place today?

- Pick ten boards, I challenge your listeners. How many of them have the right trade knowledge to ensure the appropriate strategy is being put forward? Almost half said the board expects members to be at least literate on an issue. Without acknowledging trends, it puts shareholders and fund owners at risk.

- Most companies are good at aligning stock based compensation with the CEO. And I haven't seen an original idea come out of boards in a while. All the goodness you might get out of diverse thinking and diverse opinions, you're just not getting it because you're not getting diversity.

- Adam: Having a third party do an audit of your board, not only the composition, but the operations, the culture. He says it's really important that we start doing more measurements on the actual outcome of these events. Sobel says the fourth part is just communication and disclosure.

- Adam : The people that are most well versed in what is going on, not just for a micro, but more of a macro environment, those are the people I think can be really helpful as we think about board recomposition. There are going to be more challenges that the board is going to have to deal with.

- Adam Aldiston had a car accident almost three weeks ago. He asked about rental reimbursement. The company still hasn't determined if he's liable or at fault. Aldiston learned some things today about board representation.

connect with Adam on linkedin https://www.linkedin.com/in/adumey/

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