Delaware courts have been leaders in articulating the oversight duties of corporate directors, most famously in In re Caremark International Inc. Derivative Litigation, 698 A. 2d 959 (Del. Ch. 1996). The court, in Caremark, held that directors breach their duty of oversight when they do either or both of the following:
Nasdaq’s new board diversity rules approved by the SEC back in August drew a significant number of comments when initially proposed. The new rules seek to encourage listed companies to diversify their boards by establishing rules for disclosure of their current board diversity (Rule 5606) and setting a diversity objective for boards to meet, with
A few weeks ago, my colleague Allison Handy blogged about Nasdaq’s new board diversity disclosure requirements, now approved by the SEC. The new rules are discussed in more depth in our upcoming article in the “Corporate Governance Advisor”: “Nasdaq’s New Board Diversity Rules—a Booster Rocket for Increased Board Diversity.”