corporate governance; board diversity; CEOs; biotech

Biotech's Other Innovation: A Focused Approach to Diversity

As the biotechnology industry continues to evolve, a growing cohort of company leaders are developing new approaches to gender diversity.  These companies understand that just as innovative approaches are needed to develop new therapies, so too is innovation an important approach in ensuring all available talent, including men and women, is utilized to its fullest.
 
A recent report by Life Sciences executive recruiter Liftstream details the proactive efforts being used by Cubist Pharmaceuticals, Johnson & Johnson, Merck and  Sanofi to drive gender diversity in the boardroom. 
 
Their efforts, all of which are led at the senior management team level, include relationship building, educational opportunities and data-driven talent identification.   These efforts are of particular import because they seek to enlarge the aperture through which leaders are viewed.  Rather than ascribe to the self-limiting circle of seeking only women who already hold board seats, they are instead seeking to develop new leaders and therefore utilize the full talent pool.
 
“Both men and women are needed to enable change and both men and women contribute to diversity of thought and background leading to better business decisions,” Steven Oschmann, CEO Pharma, Merck.    

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