#GAReads | Not a well-made board: Madewell files for IPO with an all-male, all-white board
“Not a well-made board: Madewell files for IPO with an all-male, all-white board”:
Madewell, the successful jeans brand born of J Crew, filed for an IPO Friday afternoon as it prepares to split from its parent company. But while the brand’s CEO Libby Wadle is a woman, there’s not a single female named on its board, and by all appearances all of the current directors are white.
There are five male directors named in the filing, all of whom currently serve on J Crew’s board, which has seven directors, also all male and apparently all white. J Crew is owned by the private equity firms TPG and Leonard Green & Partners, and four of Madewell’s board members belong to one of those two companies. The company is in a mandatory quiet period and unable to provide comment.