New York State Pension Fund to Oppose All-Male Boards

On March 21, 2018, the New York State Common Retirement Fund pledged to oppose re-election of directors at hundreds of U.S. public companies that do not have any women on their boards. As of the end of 2017, women held 16.5% of directorships at Russell 3000 companies, up from 15.1% in 2016, according to Equilar. Equilar predicts that Russell 3000 boards will not achieve gender parity until 2048. “We need to speed up that time frame,” said Thomas DiNapoli, New York state comptroller. In 2017, the New York pension fund owned shares in more than 400 U.S. public companies that did not have any female directors.