Directors: SEC Commissioner sees more diversity.

• Author: Marshall, Jeffrey
• Position: Securities and exchange commission - Brief Article

Securities and Exchange Commissioner Cynthia Glassman says she believes that the "potential" for women and minorities to move into open seats on corporate boards of directors--a potential created by the new regulatory climate--has never been greater.

Speaking to the 2005 Colloquium for Woman Directors in New York, Glassman noted that many of the provisions of the Sarbanes-Oxley Act have directly affected corporate boards. The effects of the new corporate governance listing standards of the New York Stock Exchange and Nasdaq are perhaps even more pronounced, she added.

Citing data from a National Association of Corporate Directors (NACD) survey, Glassman said that 52 percent of responding companies believed that board nominating committees should have guidelines or a plan to...