So Many ‘Dicks’ So Few of Everyone Else: e.l.f. Beauty Encourages More Diversity Across U.S. Corporate Boards
2024年5月13日 - 1:01PM
ビジネスワイヤ(英語)
New campaign, with first-of-its-kind research on inequity in
boardrooms, invites other businesses to Change the Board
Game
e.l.f. Beauty (NYSE: ELF) is highlighting its ambition to see
more diversity in U.S. corporate boardrooms with an eye-catching,
disruptive media campaign on digital screens surrounding Wall
Street called “So Many Dicks.” Revealed today at some of the
busiest New York business hubs, this work is the next phase of the
company’s “Change the Board Game” initiative.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20240512945710/en/
e.l.f. Beauty encourages more diversity
across U.S. corporate boards using disruptive campaign to invite
other businesses to join movement. (Graphic: Business Wire)
e.l.f. Beauty is one of only four U.S. publicly traded
companies, out of 4,200+, with a board that's two-thirds women and
one-third diverse. The company has reported 20 consecutive quarters
of net-sales growth – only 1 of 5 consumer-goods companies in the
U.S. with that current record. e.l.f. Beauty Chairman and CEO
Tarang Amin said he believes the company’s unique Board of
Directors is helping fuel business growth.
“One of the most important things a diverse board does is bring
in multiple viewpoints to make better decisions. At e.l.f. Beauty,
empathy is part of our business model because it brings us closer
to our community and the things people in the community care
about,” said Amin. “A diverse board also helps us stay
culturally relevant among multiple affinities. It’s the unique
combination and diverse school of thought that helps us lead
innovation and brand demand in the industry.”
Recognizing that putting more diversity in seats of power will
take the partnership of other companies, e.l.f.’s ambition is to
help double the rate of women and diverse members added to
corporate boards by 2027.
To drive awareness and, especially, motivate change, e.l.f.
developed an attention-grabbing campaign that will hit the streets
of New York City and across all e.l.f. channels. The out-of-home
creative is running now through June 10 around the Financial
District, including Fulton Street Station and The Oculus. The units
feature bold headlines calling stats about current boards – and
inviting others to learn about how diversity can drive
profitability for everyone. These are among the first disruptive
amplifications of many more to come in e.l.f.’s long-term
commitment to this movement.
Working with purpose-driven agency OBERLAND, e.l.f. Beauty
conducted research on Corporate Boards in the U.S. learning that
men named Richard, Rick, or Dick (Dicks) serving on these public
company boards outnumbered women and diverse groups.
To create the data, e.l.f. Beauty and OBERLAND identified and
categorized the race and gender of each person serving on the
boards of directors of U.S. based companies listed on the New York
Stock Exchange and NASDAQ using publicly available biographies,
images, public statements and information provided in public
filings. This included 36,957 existing board members across 4,429
publicly traded U.S. companies. Once the data was in hand, the
statistics were astounding.
- There were 566 men named Richard, Rick, or Dick (Dicks) serving
on these public company boards.
- Black women and Asian women barely outnumber men named Dick,
with only 806 Black Women, 774 Asian Women.
- There were only 283 Hispanic Women on these same boards, only
half the number of “Dicks.”
- There are 19x more men named Dick than the 29 women of Middle
Eastern descent on these boards.
- There are only 3 Native American Women serving on these boards
compared to 566 men named Dick.
That data that fueled “So Many Dicks” has never been categorized
this way and researched manually, it illuminates
underrepresentation in boardrooms that make decisions at companies
that fuel the U.S. economy.
“e.l.f.’s commitment to diverse representation isn’t limited to
within the four walls of our company. We want to normalize
diversity – and if it takes some e.l.f.ing in-your-face advertising
to do it, we’re happy to put it on some of the biggest screens you
can imagine,” said Kory Marchisotto, Chief Marketing Officer,
e.l.f. Beauty. “The aim of the data, the database and the
compelling ad campaign is to invite others with us on this journey
to drive real impact and help corporate boards more accurately
reflect the world around us.”
e.l.f. kicked off the “Change The Board Game” initiative earlier
this year when it announced a partnership with the National
Association of Corporate Directors (NACD) and its sponsorship of 20
women and/or diverse board-ready candidates through NACD
Accelerate™, a unique, two-year program that creates a pathway for
executives to prepare for board service. Each year in the U.S. we
typically see around 3% growth of women and diverse candidates on
corporate boards, but e.l.f. is aiming for 6% growth by 2027.
“This campaign demonstrates the ROI of DEI in a way that gets
people’s attention, hopefully compelling them to join our cause,”
said Drew Train, Chief Executive Officer, OBERLAND. “It is
our belief that broad representation of the marketplace is part of
a successful business plan, and an inclusive workforce and board
gives the best context to achieve that.”
e.l.f. is encouraging existing board members to visit the
website and verify/update their gender and race to ensure the
database is the most accurate representation of corporate boards in
the U.S.
For more information on “Change the Board Game,” visit
ChangeTheBoardGame.com.
About e.l.f. Beauty e.l.f. Beauty (NYSE: ELF) is fueled
by a vision to be a different kind of company that disrupts norms,
shapes culture and connects communities through positivity,
inclusivity and accessibility. Our mission is to make the best of
beauty accessible to every eye, lip, face and skin concern, through
our brands e.l.f. Cosmetics, e.l.f. SKIN, Keys Soulcare, Well
People and Naturium. We are committed to our superpowers of
delivering premium-quality products at accessible prices with
universal appeal that are clean, vegan, cruelty free and Fair Trade
certified. Learn more at www.elfbeauty.com.
About OBERLAND Launched in 2014 by acclaimed marketing
professionals Bill Oberlander and Drew Train, OBERLAND, is a
Certified B Corp and Public Benefit Corporation, providing public
sector, private sector, and non-profit organizations with fully
integrated, purpose-driven solutions. (www.thisisoberland.com) has
become the new face of advertising: dedicated to helping brands
Make Good Money. Winner of Ad Age’s 2024 Purpose Driven Agency of
the Year Award, it combines the expertise of its team with
passionate social advocacy, creating work that makes conscious
capitalism the new standard.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240512945710/en/
Media Inquiries: Melinda Fried
mfried@elfbeauty.com
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