March 28 (Bloomberg) — New York City Comptroller Scott Stringer said the city's $148 billion pension funds withdrew shareholder requests that Jarden Corp. and Microchip Technology Inc. diversify after they appointed women to their boards.
Jarden, a Rye, New York-based consumer-product maker whose brands include Mr. Coffee and Yankee Candle, and Microchip Technology of Chandler, Arizona, also adopted policies to increase minority representation, according to Stringer's office. The city also withdrew a resolution to CF Industries Holdings Inc., a fertilizer maker in Deerfield, Illinois, after it instructed recruiters to seek diverse director candidates.
"The issue of diversity goes to the heart of a corporation's commitment to long-term sustainable growth," Stringer said yesterday before the announcement. "Corporate boards deal with a complex set of issues — it only makes sense to have a diverse set of individuals to confront the challenges of the modern business world."
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
