Change the Board Game, an Initiative Founded by e.l.f. Beauty, Grows Coalition Championing Inclusivity on Corporate Boards

e.l.f. Beauty (NYSE: ELF) announces momentum in its Change the Board Game initiative, including an expanding coalition of partners and new data to support boardroom inclusivity as a business driver.

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e.l.f. Beauty announces momentum in its Change the Board Game initiative with an expanding coalition of partners and new data to support boardroom inclusivity as a business driver.

Change the Board Game has brought together like-minded change champions who celebrate both inclusivity and performance. More than 70 individual leaders and 20 organizations have joined the Change the Board Game coalition, all committed to creating more accessible boardrooms and working as a collective to advance representation of qualified Board members and candidates through strategic initiatives, board readiness and placement partnerships, and advocacy efforts.

Change the Board Game is rooted in e.l.f. Beauty’s belief that its inclusive Board of Directors has aided its performance, including its 26 consecutive quarters of net-sales growth and market-share gains. e.l.f. Beauty Chairman and CEO Tarang Amin recognized the opportunity to make the case for greater representation of qualified candidates in boardrooms everywhere.

e.l.f. Beauty is one of only five publicly traded companies among approximately 4,000 in the U.S. with a Board of Directors comprising 67% women and 44% diverse members.¹ This represents a notable difference from broader corporate America, where women hold 28% of public company board seats and 74% of public company directors are white.²

“e.l.f. Beauty is built on positivity, inclusivity and accessibility and those values guide how we lead. We believe that when diverse voices come to the table, especially voices that reflect the communities we serve, everyone wins,” said Amin. “We’re proud of the diversity on our Board, and we don't want e.l.f. Beauty to be one of only five public companies at this level."

The coalition includes leaders, companies and non-profits committed to championing inclusive Boards of Directors. Partners include Pink Chip, Latino Corporate Directors Association (LCDA), Black Corporate Board Readiness (BCBR), 50/50 Women on Boards and Gaingels, which is among the largest global investors dedicated to showing the world that equity of access and representation in venture capital delivers positive returns, as well as many others.