Disinfo: NASDAQ will delist any company without one LGBT board member

Summary

The American Stock Exchange “Nasdaq” announced its intention to remove companies that do not appoint one woman and a member of the LGBT minority to their boards of directors.

The ruling elite finds nothing better than sacrificing efficiency for ideology. It happened in the Soviet Union for the sake of communist ideology, in the United States, it happens for the liberal ideology, which requires that companies not be run by effective professionals, with experience and professional competence, and have come a long way in the career ladder, but based on their background whether they are gay or women whose competence is summed up only in not being men.

Disproof

A recurring pro-Kremlin narrative that seeks to discredit liberalism by comparing it to the communism of the Soviet Union, which makes it part of a wider narrative claiming that liberal societies are totalitarian systems ruled by “globalist elites”.

The new proposed Nasdaq listing requirement does not force companies to have an LGBT board member but requires listed companies to include in their board at least one woman and one member from an underrepresented minority group "or" an LGBTQ member.

The proposal's definition of an “underrepresented minority” does not only include LGBTQ, but also means an individual who self-identifies as one or more of the following: Black or African American, Hispanic or Latinx, Asian, Native American or Alaska Native, Native Hawaiian or Pacific Islander, or Two or More Races or Ethnicities.

Foreign companies and smaller reporting companies would have additional flexibility in satisfying this requirement with two female directors.

Moreover, companies will not be subject to delisting if they provide an explanation of their reasons for not meeting the objectives.

Finally, in response to the claim that liberal ideology is prioritising identity over competence and performance, Nasdaq announced that part of the rationale for the new requirements is that over two dozen studies found an association between diverse boards and better financial performance and corporate governance.

publication/media

  • Reported in: Issue 225
  • DATE OF PUBLICATION: 09/12/2020
  • Language/target audience: Arabic
  • Country: US
  • Keywords: Secret elites / global elites, LGBT

Disclaimer

Cases in the EUvsDisinfo database focus on messages in the international information space that are identified as providing a partial, distorted, or false depiction of reality and spread key pro-Kremlin messages. This does not necessarily imply, however, that a given outlet is linked to the Kremlin or editorially pro-Kremlin, or that it has intentionally sought to disinform. EUvsDisinfo publications do not represent an official EU position, as the information and opinions expressed are based on media reporting and analysis of the East Stratcom Task Force.

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