#GAReads | Goldman to Refuse IPOs If All Directors Are White, Straight Men
Goldman Sachs World Headquarters. Photo credit: giggel [CC BY 3.0], via Wikimedia Commons.
“Goldman to Refuse IPOs If All Directors Are White, Straight Men”:
The era of the white, all-male board is coming to an end.
Goldman Sachs Group Inc. Chief Executive Officer David Solomon issued the latest ultimatum Thursday from Davos. Wall Street's biggest underwriter of initial public offerings in the U.S. will no longer take a company public in the U.S. and Europe if it lacks a director who is either female or diverse. Asia is not yet included in the firm’s new policy.
The mandate is the latest in a series of signals that non-diverse boards and management are unacceptable.