Elf Beauty launches board diversity data campaign

Elf Beauty, led by President Corey Marciasoto, launched the "So Many Dicks" campaign based on an internal data analysis of 3,700 publicly traded companies. The analysis, which required manually entering 37,000 names into a database, revealed that Elf was the only company with a majority female board and over 40% diverse representation. The data also indicated that there were more men named Richard, Rich, or Dick on corporate boards than entire groups of underprivileged people. Marciasoto stated that the campaign aims to jolt awareness and inspire change in boardroom composition, arguing that diverse perspectives change business outcomes. Elf reported 30 consecutive quarters of growth and $2 billion in annual revenue, positioning itself as a "bold disruptor with a kind heart" that challenges industry conventions set by giants like L'Oreal, a $45 billion company. Marciasoto argues that diverse boardrooms are not just for representation but are essential for business success and societal change, using Elf’s growth metrics to prove the business case for diversity.