Diverse board crucial in fast-changing world: Bloomberg

TO stay nimble in today's complex, fast-changing environment, companies need diverse boards to inform their decision-making, says Bloomberg chairman Peter Grauer.

"Board diversity is no longer a 'nice to have'," he says in an email interview with The Business Times ahead of a visit to Singapore on Sept 19. "It is a business imperative across gender, geography, ethnicity, expertise and professional background.

"The challenges of operating in a complex environment mean we need diversity of thought and experience to help a company stay nimble and avoid the kind of groupthink and unconscious biases that can cloud effective decision making."