FEBRUARY 7, 2019: Trillium Asset Management is pleased to announce that it has withdrawn its workplace diversity proposal at F5 Networks (F5) after the Company committed to strengthen disclosures of its practices and programs directed at building a more inclusive workplace. In addition, the Company has committed to increased data transparency by publishing comprehensive workforce composition data and its annual EEO-1 report. The Company said a more in depth discussion of metrics and programs will appear in the next CSR report.
Last fall, Trillium filed a shareholder proposal requesting a report adequate for investor to assess its diversity and inclusion strategy. Building and retaining a diverse workplace at all levels of a company, from entry-level through middle and senior management, as well as in the boardroom is an investor concern. Not only do we know that more diverse companies are better financial performers, but open and supportive workplaces impact the wider health of society.
Recruiting and retaining diverse talent continue to be obstacles to advancing diversity. F5 has begun making changes to recruiting practices and is striving for a diverse slate for all open roles. It has committed to offer more inclusive ways of getting work done and launched a new flex program in January. F5’s President and CEO François Locoh-Donou sign the CEO Action for Diversity and Inclusion’s CEO Pledge committing the company to specific action in advancing diversity and inclusion.
Data transparency is an important incentive for companies in fulfilling their inclusion and diversity objectives. We commend F5 for engaging in productive dialogues with Trillium as it develops strategies to expand diversity and takes steps to hold itself accountable to promote an inclusive workforce. Trillium looks forward to continuing the dialogue and providing input as the Company sets and achieves inclusion and diversity objectives.
Contact: Susan Baker, Trillium Asset Management, sbaker[at]trilliuminvest.com
Important disclosure: This is not a recommendation to buy or sell any of the securities mentioned. It should not be assumed that investments in such securities have been or will be profitable. The specific securities were selected on an objective basis and do not represent all of the securities purchased, sold or recommended for advisory clients.