Amazon (ticker: AMZN) says it will make more efforts to involve women and minorities in future board-to-board searches.
In a public filing on Monday, the ecommerce and cloud computing giant has praised candidate pool. Three of the ten board members of the company are women.
Amazon made the change that was described in committee committees after a group of shareholders led by CtW Investment Group had reported on Amazon's lack of diversity and among its executives. Shareholders suggested in a letter last month that Amazon accepts the so-called "Rooney Rule" of the National Football League which requires teams to interview ethnic minority candidates for head coaching and senior football operations positions [1
"It's an excellent move, and it had to be done" Naomi Assaraf co-founder and chief marketing officer of Tech Start-up tells CloudHQ Barron's . "Any attempt to bring more women into leadership positions is great to see."
The tech industry has continued to hire mainly white and Asian male STEM or scientists, technology, engineering and math graduates who maintain a gender gap in the tech industry.
The lack of women on tech boards is reflected in the workforce of the industry and investments in women-owned ventures.
According to an analysis of data from the US, only 36% of technology workers are female Bureau of Labor Statistics and . Equal Employment Opportunity Commission from the Kapor Center for Social Impact . In comparison, women make up 47% of the country's workforce.
The prospects for funding all-women teams are particularly strong. According to VC database PitchBook they received only $ 1.9 billion of the $ 85 billion invested by venture capitalists in 2017. All-male teams received about $ 66.9 billion. [Less than 10% of partners at top-tier VC firms are women.]
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