Jan. 04, 2021
Dear SEC, I am writing in support of SR 2020-081 to advance board diversity and enhance the transparency of diversity statistics through new proposed listing requirements. People of color, women, and LGBTQ individuals have been historically marginalized in our society. While this phenomenon is rooted in laws designed to advantage certain groups and disadvantage others, the industry continues to perpetuate this system by overlooking people of color, women, and LGBTQ individuals for board leadership. The underrepresentation of these populations on corporate boards has implications for workforce demographics throughout companies, and thus, economic opportunities for traditionally marginalized populations. It also limits the development of products and services that companies are able to offer. Please adopt SR-NASDAQ-2020-081 to advance board diversity and enhance the transparency of diversity statistics through new proposed listing requirements. A recent study found that every incremental percentage point in African American and Hispanic representation is linked with a 3% point increase in revenue. This could generate an additional $370B each year if the racial/ethnic diversity of tech companies’ workforces reflected that of the talent pool. The study also found that closing the gap in female leadership representation could boost enterprise value by $390B across the sector. Research also shows that improving diversity could add 1.6% to our country's GDP. In order for the industry to adequately serve all of society, it must reflect all of society. I strongly believe that greater representation on corporate boards will better position companies to develop a more diverse workforce, which will help avert these issues in the future. Change comes from the very top. Because almost every company is evolving into a tech company, SR-NASDAQ-2020-081 just makes good financial sense. There should be absolutely no hesitation about adopting SR-NASDAQ-2020-081 to advance board diversity and enhance the transparency of diversity statistics through new proposed listing requirements. I urge you to adopt SR-NASDAQ-2020-081 to advance board diversity and enhance the transparency of diversity statistics through new proposed listing requirements. Sincerely, Brandi BRANDI NICOLE JOHNSON