e.l.f. Beauty’s Change the Board Game Expands Access to Board Leadership Opportunities

Partnership with NACD® helps advance a growing community of board-ready executives

OAKLAND, Calif.--(BUSINESS WIRE)--Change the Board Game, the inclusive corporate-director initiative launched by e.l.f. Beauty (NYSE: ELF), today announced the launch of its third National Association of Corporate Directors® (NACD®) cohort, welcoming 22 executives into the program, the largest class to date.

e.l.f. Beauty, which champions positivity, inclusivity and accessibility, created Change the Board Game to help double the rate at which women and people of color are added to U.S. public company boards by 2027. The initiative is focused on expanding access and accelerating pathways into board service for the next generation of leaders.

Since the program’s launch in 2024, e.l.f. has partnered with NACD to leverage its Accelerate board readiness program. NACD Accelerate has provided participants with governance education, networking opportunities and resources to help prepare them for board service.

Change the Board Game is delivering measurable results:

• 60+ executives have now participated in the NACD Accelerate program through Change the Board Game
• 4x growth in applications compared to the previous year, reflecting rapidly growing demand
• 58% of graduates who have completed the program are now serving on boards, demonstrating the power of intentional investment in building a stronger pipeline of board-ready talent

“Creating more inclusive boardrooms requires intentionality,” said Tarang Amin, Chairman and CEO of e.l.f. Beauty. “Through Change the Board Game, we're helping exceptional leaders gain the preparation, access and networks needed to secure board opportunities. Seeing more than half of our program graduates already serving on boards reinforces what we have long believed: when talented leaders are given the opportunity, they thrive.”

The 2026 cohort represents a diverse group of accomplished executives from across industries who are preparing to contribute their expertise in the boardroom and help shape the future of corporate governance.

Since launching in 2024, Change the Board Game has continued to advance its mission of increasing representation in corporate boardrooms through strategic partnerships, education, visibility and access. The initiative reflects e.l.f. Beauty's belief that diverse perspectives at the highest levels of leadership drive stronger governance, better decision-making and long-term business success.

Meet the latest cohort group here.

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About Change the Board Game
Change the Board Game is an initiative launched by e.l.f. Beauty to help double the rate at which women and people of color are added to U.S. public company boards by 2027. Through partnerships, education, advocacy and access, Change the Board Game is committed to creating pathways for the next generation of board leaders and accelerating progress toward more representative boardrooms.

About e.l.f. Beauty
e.l.f. Beauty (NYSE: ELF) is a different kind of company that disrupts norms, shapes culture and connects communities, through positivity, inclusivity and accessibility. The mission is clear: to make the best of beauty accessible to every eye, lip and face. e.l.f. Beauty and its brands, e.l.f. Cosmetics, e.l.f. SKIN, rhode, Naturium and Well People, are led by purpose and driven by results. e.l.f. Beauty offers e.l.f. clean and vegan products, all double-certified by PETA and Leaping Bunny as cruelty free, and proudly stands as the first beauty company with Fair Trade Certified™ facilities. With a kind heart at the center of e.l.f.’s ethos, the company donates 2% of net profits to organizations that make positive impacts.