Private capital and alternative investors Apollo Global Management, The Carlyle Group and Warburg Pincus announced that they have joined The Board Diversity Action Alliance (BDAA) as supporting partners. The alliance also announced two new signatories, Brighthouse Financial, one of the largest providers of annuities and life insurance in the U.S., and leading consumer products company Edgewell Personal Care.
The BDAA was established in 2020, by former Xerox Chairman and CEO Ursula Burns, former Whole Foods Chair Gabrielle Sulzberger, global CEO advisory firm Teneo, the Ford Foundation, and the Executive Leadership Council. The initiative aims to increase the representation of racially and ethnically diverse directors on corporate boards.
Signatories to the BDAA agree to accelerate change by supporting a concerted enterprise transformation approach to diversity by integrating talent, accountability and engagement, by committing to increase the number of Black directors on the board of directors to one or more, disclose the self-identified race and ethnicity of directors on corporate boards and report on Diversity, Equity and Inclusion measures on an annual basis.
In a social media post announcing the new members, Warburg Pincus said:
“Warburg Pincus believes the diversity of thought, experience, and background is an important component of differentiated decision making and is committed to an inclusive culture where the strength of ideas is never defined by any particular race, religion, ethnicity, gender, or sexual orientation.
“We are proud to join the Board Diversity Action Alliance as a supporting partner in their mission to increase racially and ethnically diverse representation at the board level and to advance diversity and inclusion in the workplace.”