Thanks for Joining Us at the WECNY Luncheon

The Women's Executive Circle of New York (WECNY) recently held a special luncheon event, "The Way Forward for Public Companies: Diversity in the Board Room and C-SuiteSEC Disclosure, Implications and Other Key Issues," on May 22, 2013 at The University Club of New York where The Honorable Luis A. Aguilar, Commissioner, United States Securities and Exchange Commission made the keynote address.

For those of you who could join us for the in-person or webinar versions of the events, we wanted to share this recap of it and some of the materials provided. For those who could not make it, we thought you might appreciate an update.

Commissioner Aguilar was instrumental in helping promulgate SEC disclosure rules in late 2009 that aid investors' ability to assess a public company's commitment to developing and maintaining a diverse board. In his remarks, the Commissioner looked at what current regulation and evolving sentiment spell for the future of corporate diversity and his views on the progress still to be made.

Following his address, Commissioner Aguilar was joined for a panel discussion by:

• Dr. Ann P. Bartel, Merrill Lynch Professor of Workforce Transformation, Columbia Business School
• Sandra Leung, General Counsel and Corporate Secretary, Bristol-Myers Squibb Company
• Peggy Smyth, Vice President of Finance, Con Edison, who also serves as a member of the board of directors and chair of the finance committee of Martha Stewart Living Omnimedia, Inc., as well as a director and member of the audit committees of Vonage Holdings Corporation, Mutual of America Investment Corporation and Mutual of America Institutional Funds.

The panel concluded that more detailed public disclosure by public companies of their definition of diversity, and/or including specific numbers of those included in that category, would be helpful information to the public; however, they were generally not in support of a quota approach.

Here are some additional materials related to this event for your reference/use:

• Webinar recording
• The WECNY Census Report: "2011 New York Census: The State of Women Business Leaders In New York"
• Speeches and Presentations on Diversity Related Issues by Commissioner Luis A. Aguilar
• Bloomberg BNA Article, "Executive Compensation Around the Globe: Need for Robust Disclosure and Accountability in the 2013 Proxy Season" by Candace Quinn and Abby Brown
• Bloomberg Article on the Event: "Women Board Members Lead to Better Returns, SEC's Aguilar Says"
• CFA Institute Market Integrity Insights Article on the Event: "Improving a Different Type of Disclosure: Reporting Corporate Board Diversity"

If you would like to join us this Fall for the launch of the next WECNY Census Report: "2013 New York Census: The State of Women Business Leaders in New York," please let Evelyn Cardoza know and we will add you to our invite list for the event in New York.