TOKYO -- U.S. proxy advisory company Glass Lewis will begin urging -- albeit indirectly -- Japan's 100 leading listed companies to appoint more women to executive posts in 2019.
The firm, which has a significant influence on how foreign investors vote at shareholders meetings, intends to recommend rejecting chairman or president appointments at companies that have no female directors or auditors.
As a first step, Glass Lewis will take this approach with the 100 large-capitalization stocks comprising the Topix 100 index. It plans to start issuing the recommendation for shareholders meetings to be held in February 2019 and thereafter.
Veteran, middle-aged men fill most executive posts in corporate Japan, sparking criticism from overseas investors over a lack of diversity compared with U.S. and European businesses.