Dec. 05, 2020
I have just heard that there is a proposed rule to force listed companies on NASDAQ to adhere to board diversity quotas. This is a very disturbing notion. Certainly a company that enforces a monolithic denies itself access to perspectives and ideas, but let that be punishment to those companies itself. These sort of quotas only hurt the cause of diversity and acceptance in the long run, they breed resentment and discontent toward women and minorities. Regardless of good intentions, peers on these boards will also tend to view these members as only being there because of the quotas and not truly deserving it. That view will persist as long as such quotas are enforced. I really cannot stress enough how well intentioned policies like this ultimately take us further rather than closer to a more inclusive and harmonious society. Not to mention the business employment impact of driving more firms away from American shores. There is no long term upside to this policy. Thank you, Peter Samson