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."

Mr Grauer was in town to give the keynote speech at the inaugural Chairmen's Conversation, organised by the Diversity Action Committee which advocates for more women directors on the boards of Singapore-listed companies. Sponsored by DBS, the event discussed board resilience and diversity, and how companies can navigate di…