Global Search Firms Heidrick & Struggles, Egon Zehnder, 11 Private Equity Firms, and Key Diversity Partners Join Expanding Effort to Publish Board Opportunities in Diligent Director NetworkNEW YORK, NY ''' September 17, 2020 ''' Diligent Corporation, a leading modern governance company used by nearly 700,000 board directors and leaders, today announced additional partnerships to enhance its Modern Leadership initiative, which provides senior leaders with the resources, insights, partnerships, and technology needed to further catalyze diversity and modernize governance in their organizations. To propel Modern Leadership forward, Diligent is partnering with an additional 11 private equity firms ''' 21 in total ''' and an additional four search firms, including Heidrick & Struggles and Egon Zehnder, joining founding partner Spencer Stuart. These partners commit to posting open board opportunities specifically for diverse candidates within the Diligent Director Network. '''Our goal with Modern Leadership is to provide companies with access to the most diverse network of talent by creating transparency into the executive and board recruitment processes,''' said Brian Stafford, CEO of Diligent. '''What we'''ve learned over the years is that to diversify boards it is necessary to go outside traditional professional circles. In many ways we have a networking problem, not a pipeline problem. Modern Leadership solves this by offering a new level of access and transparency.''' Launched in June, the Modern Leadership initiative has seen tremendous success, approaching 100 open board roles that will be filled by diverse candidates. As part of the initiative, Diligent'''s Director Network ''' the world'''s largest and most diverse community of board-ready talent ''' now boasts more than 500 individuals primed for board roles as nominated by sitting public company directors. Together, Modern Leadership and the Diligent Director Network are changing the way boards identify and recruit new talent, making the board selection process more transparent than ever. To bolster the existing momentum surrounding Modern Leadership, today, Diligent is:
- Teaming up with an additional 11 private equity firms to open board roles for diverse director candidates. The latest private equity firms to partner with Diligent are TPG, Francisco Partners, ICV Partners, GI Partners, New Mountain Capital, The Jordan Company, The Riverside Company, Palladium Equity Partners, Argand Partners, Sumeru Equity Partners and Blue Point Capital Partners. With these additions, the Modern Leadership initiative now encompasses a total of 21 private equity firms.
- Tapping additional search firms to more widely disseminate and share searches in a way that has not previously been done. In addition to a continued partnership with Spencer Stuart, the latest firms to partner with Diligent include Egon Zehnder, Heidrick & Struggles, and SPMB.
- Collaborating with the National Association of Investment Companies and the American Investment Council members to further champion the need for board diversity within leading private equity firms.
- Partnering with 10 additional organizations that are dedicated to diversifying executives and directors, including Athena Alliance, BlackNorth, Sigma Pi Phi'''s Blacks on Corporate Boards Committee, and The Toigo Foundation. Through these partnerships, Diligent is expanding its Director Network to include members and affiliates of 15 organizations focused on leadership diversity.
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