LOS ANGELES – National advocacy group 2020 Ladies on Boards announced nowadays that ladies hold 20.four% of the board seats on publicly traded firms in the Russell three,000 Index, exceeding its namesake target a complete year ahead of schedule that ladies would hold 20% of corporate board seats by the year 2020.
“We beat the 20% target thanks to constant and proactive efforts by shareholders, enlightened corporate CEOs, and our national 2020WOB analysis and public awareness campaign,” stated 2020 Ladies on Boards co-founder Stephanie Sonnabend.
“The pendulum has swung from a glacial lack of progress to visible forward momentum,” added 2020 Ladies on Boards co-founder Malli Gero.
2020 Ladies on Boards, the national advocacy and analysis organization committed to growing gender diversity on corporate boards, analyzed information on the Russell 3000 firms offered by Equilar. They discovered these firms added 941 board seats more than the previous year—a price of growing gender diversity that was 30% quicker than in prior years.
More essential findings of the 2020WOB Gender Diversity Index for 2019 involve:
60% of the 941 female board seats added this year have been new seats developed by expanding the boards, not by replacing male directors.
In spite of reaching the 20% milestone, ladies hold only five,261 board seats of the total 25,770 directors of the Russell 3000 corporations.
Comparing 2019 to 2018, the Russell 3000 listed two,712 firms for each years. Of these, 793 firms (about a single-third) added ladies directors in the previous year.
17 states, compared to only 4 states in 2018, now have surpassed 20% ladies on boards amongst corporations headquartered in their states.
311 firms have no ladies directors, 1/three of firms have just a single.
Betsy Berkhemer-Credaire, CEO of 2020WOB added, “While there nevertheless remains a enormous gap from today’s 20% to 50% parity, we are pleased and proud that our nationwide campaign has played an influential part in this accomplishment. This is strictly a company issue—a preponderance of analysis has demonstrated that firms carry out far better in profitability and productivity when they have ladies on boards. Enlightened firms now recognize that it is a competitive benefit to have company-savvy ladies on their boards.”
Fantastic corporate choice-producing needs the potential to hear and take into consideration unique points of view, which comes from people today who have unique backgrounds, experiences, and perspectives. Additional diversity on corporate boards leads to far better shareholder returns, diversity of thought—which outcomes in far better choice making—and a competitive benefit, provided diverse boards are far better positioned to thrive in today’s international economy exactly where quickly altering financial realities call for nimble, strategic and effectively-informed directors.
The annual 2020WOB Gender Diversity Index will be obtainable this fall at 2020WOB.com, citing trends for the year, comparing the Russell 3000 corporations nationally, by state, sector sector, size, and quantity of ladies on each and every board.
About 2020 Ladies on Boards
2020 Ladies on Boards (2020WOB) is a international education and advocacy campaign committed to constructing public awareness and momentum toward growing the numbers of ladies directors on corporate boards. Its namesake target of 20% ladies on boards has been accomplished in 2019, a year earlier than anticipated in 2020—the year selected to honor the 100th anniversary of women’s suitable to vote in the U.S., the 19th Amendment.
2020WOB educates stakeholders, guys and ladies, about the company benefits of gender diversity on boards. To offer the public effortless access to on the net details, 2020WOB developed its “Gender Diversity Directory” to inform company leaders, shareholders, shoppers, and news media about the numbers of ladies directors on Russell 3000 boards, sortable by state, sector, corporation name, size, and ranking.
By means of its annual National Conversation on Board Diversity, and “Get on Board” workshops, 2020WOB educates ladies about how to navigate their personal careers toward corporate boards. The 2019 National Conversation on Board Diversity will be held on November 21st in much more than 30 U.S. and international cities.
Established in Boston, 2020WOB is a 501c3, educational nonprofit. Headquarters and employees are now positioned in Los Angeles, CA.