- Five winning boards leverage the power of diversity, equity, and inclusion to enhance their governance and create long-term value for their organizations and stakeholders.
- Winners are selected based on how the board’s composition, culture, and practices align with the company’s DE&I objectives, how the company’s DE&I initiatives impact both internal and external stakeholders, and how those initiatives benefit the company and its operations.
WASHINGTON, Oct. 11, 2023 /PRNewswire/ — The National Association of Corporate Directors (NACD), the authority on boardroom practices representing more than 23,000 corporate board members, announced the winners of the 2023 NACD Diversity, Equity & Inclusion (DE&I) Awards. The awards acknowledge boards and organizations that excel in their DE&I governance and oversight and have implemented leading practices that resulted in measurable progress.
The award winners were announced by NACD in partnership with Deloitte during the 2023 NACD DE&I Awards™ Gala held on Tuesday, October 10, at the Gaylord National Resort & Convention Center just outside of Washington, DC.
Awards were given to five organizations, one in each of the award categories:
- Public Company–Large Cap: Cummins, Inc.
- Public Company–Mid Cap: Reinsurance Group of America (RGA)
- Public Company–Small Cap: Eastern Bankshares Inc.
- Privately Owned Company: MITRE
- Not-for-Profit Organization: CareFirst BlueCross BlueShield
The Gala was hosted by Roshini Rajkumar, a C-suite advisor, crisis strategist, and host of The Crisis Files Podcast, and included remarks by NACD president and CEO Peter Gleason and Gala partner, Deloitte.
“In the ever-evolving landscape of corporate governance, the 2023 NACD Diversity, Equity, and Inclusion Awards stand as a beacon of progress. We are proud to recognize the five winners who have been a driving force behind change in the boardroom and throughout their organizations,” says NACD president and CEO Peter Gleason. “These winners have demonstrated that diversity and creating inclusive environments is a business imperative. Their achievements remind us that progress requires unwavering commitment in our continuous journey toward building better, more effective organizations.”
You can read more about the DE&I honorees in the newly released NACD publication, Overcoming Challenges: Lessons from the 2023 NACD DE&I Awards.
Learn more about the five 2023 NACD DE&I Awards winners:
Public Company – Large Cap — Cummins, Inc.
Cummins Inc. drives sustainable value for all stakeholders by empowering diverse suppliers, advancing gender and racial equality, promoting technical education, and addressing global water challenges. Commitment to DE&I starts at the top. The board consists of five women (38%) and three Black or Latino members (23%) among their 13 board seats. More than 40 percent of Cummins Inc. vice presidents and 60 percent of business unit leaders are women, including the trailblazing female CEO, one of just 53 among the S&P 500 companies and one of just four in 69 industrial firms. This rise in female representation in Cummins Inc.’s top leadership, from 30 to 41 percent since 2017, has helped fuel phenomenal growth.
Public Company – Mid Cap — Reinsurance Group of America (RGA)
The board of the Reinsurance Group of America (RGA) helps maintain progress, high expectations, and accountability for DE&I by encouraging the integration of DE&I into business practices, talent management, and leadership development. RGA maintained overall female representation of 48 percent across the company, while overall women in leadership representation grew to 28 percent. The board is composed of 17 percent African American/Black members, 25 percent Asian members, and 33 percent overall female members.
Public Company – Small Cap — Eastern Bankshares, Inc.
Eastern Bankshares Inc. launched the “Road to Equity” plan in 2021, reflecting a greater commitment to increasing DE&I representation across the company including talent acquisition, retention, and development, among others. DE&I is embedded at all levels of the organization and starts with a diverse board of directors, which has long been led by professionals of color, including lead director Deborah Jackson, the first woman and second person of color to hold this position. The board demographics include African American/Black, Asian, Hispanic, and/or Latino groups—each representing 9 percent of the overall board membership.
Privately Owned Company — MITRE
MITRE’s current board reflects a greater diversity of professional and lived experiences than at any time in its history, and the demographic composition of the board is its most diverse ever. Today, 64 percent of MITRE’s trustees reflect underrepresented gender and racial demographics. The organization’s board composition includes 29 percent African American/Black members and 14 percent Latino members—with 29 percent of the overall board consisting of female members.
Not-for-Profit Organization — CareFirst BlueCross BlueShield
CareFirst works tirelessly with external community partners across the region to find unique opportunities to further equity through collaboration and philanthropy. Board members participate in the company’s annual Week of Equity and Action, where the entire workforce gathers to develop skills and obtain tools that help cultivate empathy and understanding in the workplace and beyond. Currently, 35 percent of board members identify as African American/Black, 10 percent identify as Hispanic/Latino, and 5 percent identify as other.
The winners were evaluated and selected by an independent selection committee composed of leading corporate directors. From the 69 nominations this year, these five winners were selected.
For more information on NACD’s commitment to advancing DE&I at the board level and to learn more about insights, trends, and perspectives on this issue, please visit the NACD Center for Inclusive Governance™.
About NACD
The National Association of Corporate Directors (NACD) is the premier membership organization for board directors who want to expand their knowledge, grow their network, and maximize their potential.
As the unmatched authority in corporate governance, NACD sets the standards of excellence through its research and community-driven director education, programming, and publications. Directors trust NACD to arm them with the relevant insights to make high-quality decisions on the most pressing and strategic issues facing their businesses today.
NACD also prepares leaders to meet tomorrow’s biggest challenges. The NACD Directorship Certification® is the leading director credential in the United States. It sets a new standard for director education, positions directors to meet boardroom challenges, and includes an ongoing education requirement that prepares directors for what is next.
With an ever-expanding community of more than 23,000 members and a nationwide chapter network, our impact is both local and global. NACD members are driven by a common purpose: to be trusted catalysts of economic opportunity and positive change—in business and in the communities we serve.
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SOURCE National Association of Corporate Directors
