Memorandum to the Board of Directors on Board Diversity Initiatives

Summary

This form is a memo that in-house or outside counsel can use to advise boards of directors, board nominating committees, and senior management on considerations relevant to board member diversity goals and policies. This template contains practical guidance and drafting notes. Diversity in the corporate boardroom is an area of increasing interest to public company investors and other stakeholders and part of a broader emphasis on environmental, social and governance (ESG) initiatives. This template can be used to advise board members and senior management as they consider goals and policies for expanding board diversity. Customize it by including specific references to a company's existing charter provisions, policies, and practices relating to diversity. State law considerations also can be tailored to an individual company's state of incorporation and the location of its principal executive offices. For a full listing of key content covering management of in-house legal departments, see In-House Legal Department Management Resource Kit. For a video providing an overview of corporate board diversity requirements, see Board Diversity at Corporations Video. For more information, see Corporate ESG Disclosure: Recent Trends and Developments, Shareholder Engagement Strategies for Environmental, Social, and Political Issues Board Memorandum, Corporate Board Diversity, and Board Engagement with Shareholders Policy Checklist.