Dear friend,
Today, shareowners at Urban Outfitters will vote on a resolution at the company's annual meeting in Philadelphia to encourage the board of directors to take steps to search for and bring on women and minority candidates to the board.
I joined with New York State Comptroller Thomas P. DiNapoli, California Public Employees' Retirement System Director of Global Governance Anne Simpson, Connecticut State Treasurer Denise Nappier, and North Carolina State Treasurer Janet Cowell, to write an op-ed which appeared in City & State NY making the case as to why shareowners should vote for this proposal.
As the op-ed notes, the shareowners' interest in a more diverse board is to strengthen its independent thinking and oversight, not to dilute it. Significantly, shareowners will also vote on a proposal sponsored by the NYC Comptroller's Office and Pension Funds calling for an independent chairman.
Sincerely,
Scott M. Stringer
Comptroller of the City of New York