NACD and e.l.f. Beauty Join Forces to Change the Landscape of Corporate Boardrooms
WASHINGTON, Jan. 25, 2024 /PRNewswire/ -- Today, the National Association of Corporate Directors (NACD), the authority on boardroom practices representing approximately 24,000 directors nationwide, announced a new partnership with the trailblazing beauty company, e.l.f. Beauty (NYSE: ELF).
Currently, there are only four public companies in the United States (out of 4,200+) with a board of directors that is two-thirds women and one-third diverse—one of which is e.l.f. Beauty. The company puts women and diversity in the highest level of decision-making power, and the business results—19 consecutive quarters of growth—speak for themselves.
Since its founding 20 years ago, e.l.f. Beauty—whose acronym stands for "eyes. lips. face."—has made the best of beauty accessible through premium quality cosmetics and skin care sold at an extraordinary value. Their vision is to create a different kind of beauty company through positivity, inclusivity, and accessibility, and the company is committed to championing every eye, lip, and face in beauty and beyond. Through their partnership with NACD, e.l.f. Beauty is proud to take a meaningful role in helping organizations assemble diverse and inclusive boards.
NACD and e.l.f. Beauty are united in their belief that a commitment to diversity, equity, and inclusion (DE&I) starts with a highly skilled, diverse, and inclusive board. Their partnership will raise awareness of the pivotal work being done by the NACD Center for Inclusive Governance™ to create pathways for diverse talent and foster systematic change that will shape the American boardroom.
Together, NACD and e.l.f. Beauty will launch action-led initiatives in support of this mission:
e.l.f. Beauty will sponsor Board preparation training for 20 director candidates through the NACD Accelerate™ program. The candidates will be sourced by NACD, e.l.f. Beauty, and a variety of NACD-affiliated partners that work with the Center for Inclusive Governance. NACD Accelerate is a unique, two-year program that creates a pathway for executives with little or no experience in the boardroom to prepare for board service.
e.l.f. Beauty will be a sponsor of the NACD Center for Inclusive Governance (CFIG). CFIG focuses on DE&I governance and oversight and on bringing together the expertise, resources, and influence to create systemic change to shape the American boardroom.
"We're proud to partner with an organization that cares so deeply about DE&I practices," said Peter Gleason, NACD president and CEO. "We know that the e.l.f. Beauty sponsorship of the NACD Center for Inclusive Governance will benefit not only NACD, but all our members and employees."
"We are honored to join NACD to impact positive change," said Tarang Amin, e.l.f. Beauty chair and CEO. "It takes intention to create change, and like NACD, e.l.f. Beauty is passionate to influence diverse, equal, and inclusive boardrooms. At e.l.f., we have demonstrated that diverse governance drives long-term business growth and unlocks the full potential of a company. We are deeply committed to helping other companies diversify their boards and shape cultures to create positive, empowering, long-lasting change."
About NACD:
The National Association of Corporate Directors (NACD) is the premier membership organization for board directors who want to expand their knowledge, grow their network, and maximize their potential. As the unmatched authority in corporate governance, NACD sets the standards of excellence through its research and community-driven director education, programming, and publications. Directors trust NACD to arm them with the relevant insights to make high-quality decisions on the most pressing and strategic issues facing their businesses today. NACD also prepares leaders to meet tomorrow's biggest challenges. The NACD Directorship Certification® is the leading director credential in the United States. It sets a new standard for director education, positions directors to meet boardroom challenges, and includes an ongoing education requirement that prepares directors for what is next. With an ever-expanding community of more than 23,000 members and a nationwide chapter network, our impact is both local and global. NACD members are driven by a common purpose: to be trusted catalysts of economic opportunity and positive change—in business and in the communities we serve. To learn more about NACD, visit nacdonline.org.
About e.l.f Beauty:
e.l.f. Beauty builds brands designed to disrupt norms, shape culture, and connect communities through positivity, inclusivity, and accessibility. A digitally disruptive brand from the start, we launched in 2004 selling premium-quality makeup for $1 online. Today, we have five visionary, purpose-driven brands, all of which make the best of beauty accessible to every eye, lip, face, and skin concern. Our brand portfolio includes e.l.f. Cosmetics, e.l.f. SKIN, Naturium, Well People, and Keys Soulcare. With a focus on clean, cruelty free, and vegan products, we are also the first beauty company with a Fair Trade™ certified manufacturing facility. e.l.f. Beauty brands are sold online and at leading beauty, mass market, and specialty retailers in the US and internationally.