THE HOME DEPOT, INC. | Achieving Gender and Racial Equity on the Board of Directors
How other organisations have declared their voting intentions
|Organisation name||Declared voting intentions||Rationale|
|EFG Asset Management||For||Home Depot reports that its Governance and Nominating Committee evaluates and recommends candidates for membership on the board. The board states that the committee nominates and selects candidates based on, among other things, the candidate s experience, skills, background, gender, race, and other qualities and attributes. Furthermore, the company states it is committed to having a diverse board, has a board nominating process that includes diverse candidates in candidates searches, and has a board that reflects this.
However, further reporting on the company s steps to increase gender and racial board diversity could be of value to shareholders. A commitment to diversity at all levels of a company can assist companies in attracting employees, creating goodwill with consumers, and competing in an increasingly global marketplace, which in turn can benefit long-term shareholder value. Given its adoption would serve to promote the company's efforts to promote diversity and that the resolution does not appear to constrain the firm's ability to recruit competent and experienced executives and board members with suitable skill sets specific to the company's needs, this resolution warrants shareholder support.