January 6, 2021
Nasdaq's proposal to require listing companies to conform to their company board composition rules is outrageous. Nasdaq is a listing service for these companies and Nasdaq is not invested in them. I am heavily invested in many Nasdaq listed companies. I totally reject the idea that Nasdaq can require a company to adopt their artificially constructed social agenda on the board of directors... The companies should continue appoint board members as they always have based on effective business governance.
What is Nasdaq going to do next time? Require 25% of a company's board to meet their social agenda? 50%? Where does this insanity stop?
Nasdaq's proposal to dictate company board composition where they have zero money invested and company shareholders have millions invested is obscene...
This proposal should be rejected.... DOA.