ELF and the US NACD collaborate to promote diversity in company boardrooms
26 Jan 2024 --- ELF Beauty partners with the US National Association of Corporate Directors (NACD) to help organizations assemble diverse and inclusive boards.
There are only four public companies in the US with a board of directors comprised of two-thirds women and one-third people of color, one of which is ELF Beauty.
The American cosmetics company says it puts women and diversity at “the highest level of decision-making power and the business results.”
ELF says it believes in creating a “different kind of beauty company through positivity, inclusivity and accessibility.”
The company has posted 19 consecutive quarters of growth.
Actions for change
The NACD and ELF Beauty will launch action-led initiatives to help create more diverse boards. ELF will sponsor board preparation training for 20 director candidates through the NACD Accelerate program.
The candidates will be sourced by NACD, ELF and various NACD-affiliated partners that work with the Center for Inclusive Governance. NACD Accelerate is a two-year program that creates a pathway for executives with little or no experience in the boardroom to prepare for board service.
ELF is one of four public companies in the US that meets specific diversity criteria.“We are honored to join NACD to impact positive change. It takes intention to create change, and like NACD, ELF Beauty is passionate to influence diverse, equal and inclusive boardrooms,” says Tarang Amin, ELF Beauty chair and CEO.
“At ELF, we have demonstrated that diverse governance drives long-term business growth and unlocks the full potential of a company. We are deeply committed to helping other companies diversify their boards and shape cultures to create positive, empowering and long-lasting change.”
Pathways for diversity
ELF will sponsor the NACD Center for Inclusive Governance (CFIG). The CFIG focuses on diversity, equity and inclusion (DE&I) governance and oversight. The NACD also highlights that it brings together the “expertise, resources and influence to create systemic change to boardrooms.”
“We’re proud to partner with an organization that cares so deeply about DE&I practices. We know that the ELF Beauty sponsorship of the NACD Center for Inclusive Governance will benefit not only NACD but all our members and employees,” says Peter Gleason, NACD president and CEO.
NACD is an authority on boardroom practices, representing approximately 24,000 directors nationwide. It unites with ELF to promote DE&I across more companies and their boardrooms.
The companies believe their partnership will raise awareness of what is being done by the NACD CFIG, which aims to create pathways for diverse talent and generate systematic change that will shape how boardrooms look in the US.
Edited by Sabine Waldeck
