Diversity issue a casualty of proxy fiasco
March 10, 2008
Daniel Lee

A photo and short company bio don't reveal much about a person.

The U.S. Episcopal Church and its pension fund, both based in New York, received an embarrassing reminder of that when they attempted to target Zimmer Holdings with a dose of shareholder activism.

The recent proxy filing by Zimmer, a Warsaw-based orthopedics company, included a shareholder proposal from the church asking the company to take more steps to diversify its board of directors, "all of whom are white males." The church pointed to the "cozy clubbiness" that too often has characterized U.S. corporate boards. the rest