Understanding how a company fits its dynamic external environment is essential to making beneficial strategic changes to its products, services and processes. One of the ways that companies align with the emerging environment is through diversity initiatives. This chapter looks at diversity and inclusion as boards seek to position companies for economic and social performance. The focus is on three areas that prior research has shown to be critical in diversity and inclusion: board attitudes and composition, corporate strategy and role modelling. Insights are derived by an analysis of the decisions that a responsibly led board made in the process of effecting a strategic transformation of a bank through a diversity strategy.