Diversity of boards -how do we get there? The CalPERS '3D' initiative is one determined effort.

• Author: Simpson, Anne.
• Position: BOARD DIVERSITY

AT THE California Public Employees' Retirement System, we don't support quotas. But we do support--as strongly and as firmly as we possibly can--diversity on corporate boards in the broadest sense: diversity of gender, race, age and, perhaps most important, depth of experience, skills and knowledge.

Our view of director diversity is simple: It is a gateway to discovering new and vibrant talent, and a way to refresh boards and improve risk and returns.

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We don't think quotas are a guarantee of a reinvigorated board. But we do think companies succeed best when individuals willing to challenge the traditional ways of doing things are sitting in the directors' chairs. We want team players, yes; but we also ardently seek the kind of dynamic diversity of thought and skills that makes groupthink impossible. We want leaders.

But where do you find them? And, once you do locate them, how do you get them into the boardroom? It takes determined, concerted effort. That's why we're working, along with our colleagues at the California State Teachers' Retirement System, to construct a diverse database of candidates, what we call our "3D" initiative (Diverse Director Database).

When it's...