Yesterday, CalPERS and CalSTRS issued this joint press release announcing that they have commissioned The Corporate Library, a private business that is part of GovernanceMetrics International, to develop the Diverse Director Database. The Corporate Library will own and maintain the database, which is intended to be a resource for identifying board candidates. The database will be available to registered subscribers. According to the press release, The Corporate Library will work with CalPERS, CalSTRS and an 18 member advisory panel to create the database.

CalPERS and CalSTRS failed to disclose many details in their joint press release. However, each has created webpages that provide some additional (although not entirely consistent) information. Some important, yet unanswered, questions that remain are...