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'Fearless Girl' statue sponsor State Street drops boardroom diversity targets

State Street's asset management unit dropped targets for the number of women and minority directors who should serve on corporate boards.
State Street Global Advisors, the sponsor of the "Fearless Girl" statue, has decided to drop its boardroom diversity targets for 2025, as announced on February 28, 2023. The company, which had previously set goals for the companies in its $4.1 trillion assets under management to increase the representation of women and minorities on their boards, cited significant progress in diversity as the reason for this decision. State Street noted that the proportion of companies with at least one woman on their board had risen to 98% from 89% in 2016, and those with at least one director from an underrepresented community had increased to 89% from 75% over the same period. The firm will now focus on broader engagement with companies on diversity, equity, and inclusion, moving away from specific numerical targets.

Read the Full Reuters Article at:
[ https://www.reuters.com/business/finance/fearless-girl-statue-sponsor-state-street-drops-boardroom-diversity-targets-2025-02-28/ ]