Second Bite at the Apple

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As reported here, Apple has appointed a second woman to its board of directors. Sue Wagner is a co-founder of Blackrock with a strong background in finance and M&A across various global markets. She is replacing Bill Campbell and joining Andrea Jung, the former chairman and CEO of Avon Products, on Apple’s eight-member board.

This is a promising development in light of Apple’s earlier commitment to diversify its board, which was made, at least in part, in response to investor pressure. At the same time, there is still a lot of room for improvement, and not just on Apple’s board, which could add one more director (following a bylaw amendment adopted by the board or the shareholders). As we mentioned before, research has shown that companies need at least three women on the board to make a substantial difference.

Future director selections will bear fruit on how strong Apple’s commitment to diversity really is. 

But, for now, good to see it on the menu. Will others take heed?

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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