Global Organizations Must Continue to Make Strides in Boardroom Diversity

The Women Corporate Directors hosted its Global Institute & Visionary Awards. During the two-day conference, the event hosted various sessions spanning multiple topics, including today’s environment, technology, innovation, and challenges that current boards face.

During the panel discussions, keynote sessions, and fireside chats, attendees had the opportunity to hear and engage with worldwide business leaders. The common theme among all Thursday’s sessions was: What are the next steps for boards, and what does the future look like?

Speakers shared insight on what steps boards should take while facing inflation, attempting to retain talent, recent innovations in AI, and more. Attendees were able to take away insight into what boards should do soon, including:

•     Most Boards are Facing Similar Issues: Problems such as supply chain constraints, the post-pandemic era, and inflation continue to impact boards.
•     Technology is Here to Stay: Boards need to adapt to technological changes, including AI, Chat GPT, and more. AI tools are becoming more important daily; businesses are hiring for AI-specific roles.
•     Boards Need a Vision During Transformative Times: Boards should reconsider traditional strategies and focus on practices that focus on the board’s vision.
•     Know Expectations of Today’s Workforce: Building trusted relationships with stakeholders, adapting to remote work preferences, and maintaining consistent communication.
•     Optimizing New Tech: Most of the workforce is working with technology in at least some capacity and spans multiple industries, including healthcare. Boards should think critically about the use cases for technology, how it can be applied to their business, and how it can generate value.
•     Engaging the Workforce: Offering flexible working helps attract and retain talent; directors must know that one size does not fit all.

The event also hosted the Visionary Awards, an evening recognizing companies or individuals exhibiting exceptional corporate commitment to gender diversity in the C-suite or board room. At the award ceremony, the honorees all mentioned a common sentiment – global organizations must continue to make strides in boardroom diversity.

Winners were selected by the WCD Visionary Awards Selection Committee, a group of 14 members representing all regions of the world, based on the commitment and ongoing efforts of the awardees in their areas of recognition.

Among the companies and individuals that have shown exceptional corporate commitment to diversity, inclusion, and women’s leadership, the following stand out:

• WCD Visionary Award for Leadership and Governance of a Public Company: Presented to LIXIL Group.
• WCD Visionary Award for ESG Leadership: Presented to Aquafil Group.
• WCD Visionary Award for Leadership and Governance of a Private Company: Presented to Midmark Corporation.
• WCD Visionary Award for Strategic Leadership: Presented to Luiza Trajano.
• Susan Stautberg WCD Membership Leadership Award: Presented to Henrietta Fore.

KPMG was a key sponsor. In addition, Karen Mitchell Curran, Office Managing Partner, KPMG LLP, and Lead Director, Women Corporate Directors Foundation indicated that members who participated in the two-day event found great value in being together with their peers from around the world and sharing leading practices to strengthen corporate governance,” said.

KPMG LLP is the Presenting Sponsor of the 2023 Global Institute. Globant, Aquafil, LIXIL, and Midmark are also 2023 Global Institute and Visionary Award sponsors. WCD’s annual sponsors are KPMG, Spencer Stuart, Pearl Meyer, Edelman Smithfield, Vinson and Elkins, S&P Global, Equilar, Davis Polk, and IFC.