As Facebook prepares to go public, one thing is notably absent from its board of directors: women. The board is comprised of all white guys.
From Bloomberg news:
A Catalyst survey of Fortune 500 companies found that those with three or more female directors outperformed those with fewer between 2005 and 2009, achieving on average 43 percent better return on equity. As Facebook prepares to raise $5 billion in an initial public offering, the composition of its board shows its business strategy is faulty, said Susan Stautberg, co-founder of New York-based Women Corporate Directors, which promotes female board membership.
From Yahoo! Finance / 2020 Women on Boards
Facebook IPO is No Friend to Women. 2020 Women on Boards Unlikes This!
2020 Women on Boards Executive Director Malli Gero said, "It's outrageous that Facebook, representing a new genre of American company, could not find a single woman director. Does Mr. Zuckerman think that women are too busy socializing on line to sit on his board? We urge him to do the right thing and appoint a woman to the Facebook board, and we encourage people not to buy Facebook stock until they add at least one woman director."
Tell Facebook to act like a 21st century company - tell them to take their fiduciary responsibility seriously and add some ladies to their board today.
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