End of an Era
The decision by the Sandlers to sell their firm Golden West Financial was inevitable, but we can't say we aren't saddened by the fact that we are losing the only Fortune 500 firm with a majority of female directors: five out of nine directors are women. Take a long look at a diverse board. It may be a long time before you see this again.
At Wachovia, only two out of 16 directors are women: 12.5%. That's fewer women than the national average.
"Golden West's Board of Directors is composed of individuals who contribute a wealth of experience in investing, real estate, economics, business management, law, and public policy."
We will miss the incredible Sandlers, but suspect they will do something very worthwhile with their hard-earned $24.2 B buy-out. They deserve a rest and lots of joy in their lives. They will be missed, but we hope that Wachovia learns a little something from them about good governance.
