Mill Road Capital (MRC) recently announced a collaboration with Stanford Women on Boards (SWB) to increase diversity in the boardroom. MRC is a US-based investment firm with a 15-year track record of bringing private equity skills to the public market. SWB aims to increase the representation of Stanford alumnae on corporate and fiduciary boards, increase Stanford women’s readiness for board service and further develop the capabilities and influence of Stanford women already on boards.
Increasing the number of women on boards
The new collaboration will support MRC’s recently launched Progressive Governance Fund (MRPG). The fund invests in small publicly traded companies and works collaboratively with them to gain board representation. It also aims to improve governance, enhance operations and create cultures of equity and inclusion. The new fund has committed that a majority of its board appointees will be women or people of color. A key element of its mission is to improve diversity throughout its portfolio companies.
The collaboration will give MRPG access to SWB’s global network of over 1,500 female leaders to appoint as directors in support of its strategy to improve the governance and diversity of small company boards. For SWB, the collaboration provides opportunities for its highly qualified members to join the boards of MRPG’s target companies.
Welcoming a new member to the team
Additionally, MRC announced the addition of SWB’s Deborah Byron to the MRPG Advisory Board. Ms. Byron is an experienced board member, Silicon Valley executive and advisor to CEOs. She currently leads the SWB Board Match Services. SWB has assisted more than 100 companies in finding qualified and diverse candidates over the past year.
“We are thrilled to work collaboratively with Mill Road as it strives to improve the functioning, culture and character of small company boards by creating a new type of investment fund that supports diversity,” said Kristin Daley, SWB Strategic Alliances Co-Chair.
“As a Stanford GSB alumnus, I could not be more pleased to have formalized this collaboration. With the addition of SWB’s extensive network of highly qualified women, I believe that MRPG has a larger proprietary network of board-ready diverse candidates than any other public investor in the United States,” said Thomas Lynch, MRC Senior Managing Director.
Stanford Women on Boards
Stanford Women on Boards (SWB) aims to increase the representation of Stanford-affiliated female leaders on corporate and fiduciary boards. SWB wants to increase Stanford women’s readiness for board service. Additionally, the organization wants to further develop the capabilities and influence of Stanford women already on boards. SWB helps companies find the best talent to build high-performing diverse boards and forms collaborations to advance thought leadership on women in the boardroom.
Mill Road Capital
Mill Road Capital is a private investment firm. It is focused on investing in and partnering with small publicly traded companies in the US and Canada. Since its founding in 2004, the firm has successfully executed its investment strategy of identifying and partnering with management teams that are focused on long-term value creation. The limited partners of Mill Road’s funds include a prominent and highly respected group of state and corporate pension funds, foundations and endowments. Mill Road’s current portfolio consists of companies in a broad range of industries. These include retail, manufacturing, business services and consumer products.
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