As Twitter Nears IPO, Investors Call For A More Diverse Board
Twitter pushes the edge of tech, but lags peers in diversity
We can define Twitter’s board of directors in less than 140 characters: male, pale, and stale. Since announcing their upcoming IPO in early October, Twitter has come under scrutiny for the composition of its board, which is exclusively white males. In our view as investors, a non-diverse board of directors in 2013 is unacceptable, particularly for a company whose user base is majority women1 and presents itself as an advancing innovator in technology.
As Twitter prepares to enter the public exchange, it joins major players including Facebook, Yahoo and Apple, all publicly-traded leaders in technology with women on their boards. These companies recognize that a woman’s contribution is not only valuable as a consumer, but also as a decision-maker and leader in the boardroom. Twitter’s exclusion of women and minorities from these powerful seats positions the company at a disadvantage both in terms of financial success and diversity. Calvert believes, and Twitter should know better than any in its peer group, that companies in today’s plugged-in age cannot ignore the growing voice of potential shareholders calling for innovation in tech to be matched by equal advancements in corporate diversity.
See also: Nicholas Kristof’s New York Times Op-Ed, Twitter, Women and Power.