I was recently interviewed by Fortune on the debate around diversity, equity, and inclusion (DEI) programs. As the CEO of a nonprofit that represents shareholders, I approach the issue of human capital management from a financial and business perspective. After all, it is the fiduciary duty of investors and their representatives—among them asset and retirement fund managers—to reduce material risk and optimize long-term financial sustainability for all stakeholders.
In the interview, I stated that opponents of corporate diversity programs are forcing companies to "underperform." I was pleased to see that over 1,000 comments were posted in places the interview appeared and that most proponents and detractors had more in common than they may realize. We all seem to agree that employees need to be hired and promoted based on “merit”—that people should be judged on their qualifications and work product, not gender, race, or ethnicity.
