Corporate DEI Initiatives Still Alive Despite Changing Political Landscape
Amidst the return of President Donald Trump to the White House and concerns about rollbacks in corporate diversity, equity, and inclusion (DEI) policies, Nasdaq Chair and CEO Adena Friedman believes that these initiatives are not being abandoned altogether.
"I personally do not think so," Friedman said on Yahoo Finance's Opening Bid podcast at the World Economic Forum in Davos, Switzerland. "We feel very good about the results that we've been able to achieve in terms of creating that culture of inclusivity and belonging. And I think a lot of companies feel the same way I do, and it's just going to be a little bit quieter."
Friedman's comments come after a federal appeals court struck down Nasdaq's attempt to diversify company boards by requiring them to have at least one woman and one minority or LGBTQ member. However, Friedman emphasized that Nasdaq remains committed to its DEI initiatives.
In addition, despite President Trump's vow to rid the federal government of DEI mandates, Friedman believes that quiet confidence, humility, and a willingness to listen are essential qualities for successful CEOs, regardless of their gender or other characteristics.
Regarding the IPO market, Friedman expressed optimism for the upcoming year. Despite a challenging 2024, she anticipates a revival in IPO activity due to loosened regulations under the Trump administration.
"With the new administration coming in, there's definitely a more, I would say, more certainty that there could be a really interesting and exciting environment for this year," Friedman said.