In Honor of National Coming Out Day, NACD Northern California Chapter Celebrates LGBTQ+ Corporate Directors and Diversity in the Boardroom
SAN FRANCISCO, CA (October 9, 2020) – The NACD Northern California Chapter, the advocate for the profession of directorship in the San Francisco Bay Area, Silicon Valley and Sacramento, released a video series documenting the experiences of LGBTQ+ corporate directors in anticipation of this Sunday’s National Coming Out Day.
“Diversity of thought and experience is an imperative in the boardroom,” said Kim Box, chair of the NACD Northern California Chapter. “Leaders who build strong boards must drive progress to ensure diversity is a priority. It will serve to broaden representation, creativity, and business oversight. The time is now to advance this agenda. It will result in better overall governance as we move into the future.”
The NACD Northern California Chapter’s traditional gatherings celebrating diversity in the boardroom are being converted to a virtual environment this year due to the COVID-19 pandemic. Viewers will be able to enjoy prerecorded interviews with prominent LGBTQ+ directors in a presentation designed to spark conversation about diversity in the boardroom. It is also intended to inspire a cohort of future directors and advance their connectivity with the board community in the year ahead.
The presentation is introduced by David Eugene Perry, board member of the San Francisco Chamber of Commerce, board president and founder emeritus of the Rainbow Honor Walk, and CEO of DP&A Inc. The video features directors including Deborah Alvarez-Rodriguez, board member of Recology, Pacific School of Religion, and Ignite Institute for Leadership Innovation Leadership Council; Vasudev Bailey, board member of Eko, Unnatural Products, Aether, IDbyDNA, Freenome, Climax Foods, Lemonaid Health, Association for Women in Sciences, Johns Hopkins Biomedical Engineering, and The Trevor Project;Torrence Boone, board member of Macy’s, Finish Line, and Pond5, and vice president of Google;Laurence Colton, board member ofRecology, Digicom Learning, and The Palm Springs LGBTQ Center; Matt Fust, board member of Atara Biotherapeutics, Crinetics Pharmaceuticals, and Ultragenyx Pharmaceutical; Dr. Sandra Hernandez, board member of Covered California, and president and CEO of California Health Care Foundation; Dr. Vivienne Ming, board member ofOptoCeutics, andfounder and executive chair of Socos Labs; andTodd Pierce, board member ofDignity Health and Rock Health, and president of Good Group.
California Governor Gavin Newsom signed Assembly Bill 979 (AB-979)on September 30, 2020. The bill requires all publicly held companies headquartered in California to have at least one underrepresented community represented on its corporate board by December 31, 2021, and potentially up to three by December 31, 2022. An underrepresented community refers to an individual who self-identifies as Black, African American, Hispanic, Latino, Asian, Pacific Islander, Native American, Native Hawaiian, or Alaska Native, or who self-identifies as gay, lesbian, bisexual, or transgender.
NACD studies find that boards and investors agree that diversity in the boardroom is a business imperative. Seventy-four percent of private company respondents to an NACD survey report that diversity is an imperative for board success, and 69 percent see value in increasing diversity on their own board. Further, 93 percent of board members report that the primary value they see in board diversity is the broader perspective and expertise it fosters. The NACD Resource Center on Diversity and Inclusion and the NACD Directorship Power of Difference offer further insights about advancing diversity in the boardroom.
The NACD Northern California Chapter program page offers details about the virtual program and its speakers. Individuals interested in networking and discussions about issues impacting corporate boards with a diverse group of participants are encouraged to sign up and participate in future discussions.
About the NACD Northern California Chapter
NACD Northern California provides a forum for NACD members to exchange knowledge and discuss leading boardroom practices in the Bay Area. NACD’s 20+ chapters enhance the value of NACD membership by providing directors with a local forum to address governance challenges in order to elevate their board’s performance. Members enjoy peer-to-peer dialogue about critical boardroom issues such as cyber risk, CEO succession planning, activism, and leadership. To learn more about NACD Northern California, please visit northerncalifornia.NACDonline.org.
About NACD
The National Association of Corporate Directors (NACD) empowers more than 21,000 directors to lead with confidence in the boardroom. As the recognized authority on leading boardroom practices, NACD helps boards strengthen investor trust and public confidence by ensuring that today’s directors are well prepared for tomorrow’s challenges. World-class boards join NACD to elevate performance, gain foresight, and instill confidence. Fostering collaboration among directors, investors, and corporate governance stakeholders, NACD has been setting the standard for responsible board leadership for 40 years.
To learn more about NACD, visit www.NACDonline.org. To become an NACD member, please contact us at Join@NACDonline.org or 571-367-3708. If you are already a member, contact your NACD Membership Advisor at MembershipAdvisor@NACDonline.org to ensure that you are receiving the best value from your membership.
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For further information please contact:
Lisa Spivey
programs@NorthernCalifornia.NACDonline.org
(415) 333-6800
