Urban Outfitters names female board member
Urban Outfitters told shareholders it has chosen a woman to join its corporate board — the wife of the company’s CEO.
The Philadelphia-based company plans to appoint Margaret Hayne to the board. Her husband, Richard Hayne, founded Urban Outfitters with his previous wife, Judy Wicks.
At Tuesday’s annual shareholders meeting, investors are set to vote for a third year in a row on a resolution supporting greater board diversity, introduced by shareholder Calvert Investments.
“We commend the company for including this woman here, but we do not believe that it satisfies spirit of our shareholder proposal for strong governance practices,” said Calvert’s Christine DeGroot.
It is somewhat unusual for a clothing company to have no female board members.
Last year, Calvert Investment’s initiative won 39 percent shareholder support.
Calvert has introduced it repeatedly based on a growing body of research that shows companies with more diverse leadership make more money.
Urban Outfitters did not return a request for comment.
WHYY is your source for fact-based, in-depth journalism and information. As a nonprofit organization, we rely on financial support from readers like you. Please give today.
New Jersey Transit approves a 15% fare hike, the first increase in nearly a decade
The increase, which takes effect July 1, also calls for annual, regular fare increases of 3% in subsequent years. It's the first time rates will rise in nearly 10 years.
2 weeks ago
Investors pour $1B into Delaware River waterfront projects over 10 years
There’s a steady pipeline of projects planned along the Philly waterfront — including apartments, retail and a public park — even though one developer paused mid-construction.
2 weeks ago
Listen 1:11
Vice President Kamala Harris unveils more student debt relief measures in North Philly
The Biden administration expects the debt relief program will help 30 million people nationwide.
2 weeks ago
Listen 1:00