e.l.f. Beauty, in collaboration with North Carolina Agricultural and Technical State University, released the 'Not-So-White Paper' on October 7, 2024. This report highlights the impactful role that board diversity plays in the success of U.S. publicly traded companies.
The initiative is part of e.l.f. Beauty's 'Change the Board Game' commitment, aiming to increase diverse representation in boardrooms. The company's own Board of Directors is 78% women and 44% diverse, reflecting the communities it serves.
The report cites research indicating that diverse boards correlate with higher return on equity, reduced financial risk, better shareholder returns, and fewer lawsuits. e.l.f. Beauty aims to help double the rate at which women and people of color are added to U.S. public company boards by 2027.
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