Goldman Sachs has said its asset management business will vote against big companies that do not have a minimum number of female and minority board members from next year, in a decision that could affect thousands of companies.
Beginning in March 2022, Goldman Sachs Asset Management will require companies globally to have at least two women on any board with more than 10 directors. Its policy at present requires one female director.
For S&P 500 and FTSE 100 companies, GSAM will also require at least one director to be from an under-represented minority group.
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