Nasdaq and 'Groupthink'

Nasdaq and ‘Groupthink’
The stock exchange now wants to be your diversity consultant.
Journal Editorial Report: Paul Gigot and Mary O'Grady on identity politics and corporate boards. Image: Stephen Chernin/Getty Images
By
Dec. 9, 2020 6:29 pm ET
There’s a new Nasdaq high-growth industry: diversity consulting. On Wednesday the stock exchange rolled out a service that conveniently complements its new race and gender mandates. Nasdaq is now offering “Limited time, complimentary access” to “The Equilar Diversity Network.”
No one objects to board diversity, but Nasdaq wants to force Americans to pay for its political signaling. The exchange said last week in a Securities and Exchange Commission filing that it wants companies to have at least two “Diverse” directors. That’s defined as “one director who self-identifies as female,” and “one who self-identifies as Black or African American, Hispanic or Latinx, Asian, Native American or Alaska Native, Native Hawaiian or Pacific Islander, two or more races or ethnicities, or as LGBTQ+.”

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