Vanguard Group Board of Directors Diversity and Inclusion Efforts

The Vanguard Group Board of Directors has made significant strides in promoting diversity and inclusion. The board has a diverse composition, with 44% of its members being women. This is a notable achievement, considering the industry's historical underrepresentation of women in leadership positions.

The board's commitment to diversity is further reflected in its efforts to attract and retain top talent from underrepresented groups. The Vanguard Group has implemented various initiatives to promote diversity and inclusion, including mentorship programs and training sessions.

One notable example of the board's efforts is the appointment of Mary Brooks, a veteran financial services executive, to the board in 2018. Brooks brings a wealth of experience to the table, having served in various leadership roles at prominent financial institutions. Her appointment has helped to increase the board's diversity, with 44% of its members now being women.

Vanguard's board includes 14 directors, with 12 being independent directors who have no affiliation with Vanguard or its funds apart from their individual investments. These independent directors are responsible for setting broad policies, monitoring financials and operations, and electing officers.

Mark Loughridge serves as the lead independent director and chairman of the board. He emphasizes the importance of diversity in the board's composition, believing that diverse perspectives and experiences are crucial for serving Vanguard's clients effectively.

Vanguard recognizes the value of diversity in its board, aiming to create a diverse group of individuals with a range of skills and attributes. This diversity is reflected in the board's composition, which includes individuals from various backgrounds and industries.

The Vanguard Funds are overseen by boards of trustees, which are composed of the same individuals who serve on the Vanguard board of directors. This shared leadership structure allows for effective communication and collaboration between the two groups.

In 2024, Vanguard filed a proxy statement with the SEC to seek shareholder approval for the election of its boards of trustees. The statement highlights the importance of electing strong trustees who can oversee the management of the funds and deliver value to shareholders.

The proposed trustees bring a range of skills and experiences to the table, including business and investment acumen, diverse professional experiences, and unique individual skillsets. They are nominated to serve as trustees for the Vanguard funds, with the goal of overseeing the management of the funds and ensuring their long-term success.

Vanguard has also announced the appointment of Rebecca Patterson and Barbara Venneman to its Board of Directors, effective February 26, 2025. They are also nominees to serve as trustees for the funds, bringing their expertise and experience to the table.

The 13 nominees for the funds' boards of trustees include a mix of experienced and new independent trustees, including Vanguard's CEO Salim Ramji and new trustees John Murphy, Rebecca Patterson, and Barbara Venneman.

Proxy materials will be distributed beginning on or about November 27, 2024.

Shareholders of the Vanguard funds will be invited to vote on the election of the funds' Boards of Trustees ahead of and during a virtual shareholder meeting on February 26, 2025.

Proxy voting will be allowed online and over the phone, and shareholders can also cast their votes through the mail or during the virtual Meeting.

The virtual shareholder meeting is scheduled for February 26, 2025.

Shareholders are encouraged to vote early to ensure their voices are heard.

The Vanguard Group's Board of Directors has made a conscious effort to increase diversity and inclusion in recent years.

The Board has a total of 15 members, with 5 female members, which accounts for 33% of the total members.

These women bring a unique perspective to the table, helping to balance out the Board's decision-making process.

Gender Distribution is an important aspect of Diversity and Inclusion. The numbers speak for themselves - at The Vanguard Group, the executive team is 31% female and 69% male.

This lack of balance is reflected in the company-wide numbers as well. The Vanguard Group is 39% female and 61% male.

Racial diversity is a crucial aspect of creating an inclusive environment. The Vanguard Group's executive team is predominantly White, with 62% of the management team identifying as White.

White is also the most common ethnicity company-wide, making up 64% of employees. This stark contrast between the management team and the overall employee base highlights the need for more diverse leadership.

The management team has a higher percentage of Asian representation, with 13% of executives identifying as Asian, compared to 11% of employees. This disparity suggests that there may be opportunities for growth and development in this area.

Here's a breakdown of the racial diversity in The Vanguard Group's management team:

It's worth noting that the percentages of Hispanic or Latino and Black or African American employees are roughly equal, at 11% each.