While women as a whole account for just under 20% of corporate directors in the largest US companies, women of color are practically absent from US boardrooms, with a representation of 3.1% of board seats in the Fortune 500.
Not only are there few women directors, but a quarter of those
who serve on one board also serve on additional boards, demonstrating that selection committees often rely on the same women to serve as directors on multiple boards. This infographic illustrates the additional challenges faced by women of color in US boardrooms.
Deloitte has written about the value of young directors with different perspectives as a competitive advantage in the changing business landscape. And more articles are highlighting how business experience is not only gained with age in order to make the case for Millennials in the boardroom.
As we learn more about Millennials and their professional goals, we are finding that the boardroom is one of many arenas where organizations can leverage their experience and perspective.
Women On Board® Remembers Jalynn Bennett
We are sad to share the news of the loss of Jalynn Bennett, a wonderful mentor and sponsor in Catalyst’s Women On Board® initiative. Jalynn was a leader in the boardroom and Canadian business whose advocacy for women extended much further than her public commitments to diversity.
“Jalynn Bennett was my mentor for the past two years. I am so very grateful to have had the opportunity to benefit from the support and counsel of one of Canada’s best. Our relationship, although far too short, will have a lasting influence on me,” said Susan Watts, Jalynn’s Women On Board® partner.
Did You Know?
New York City Council Members are taking a stand on boardroom diversity. Proposed new bills would require companies that do business with the city to disclose the race and gender of their executives and corporate directors.
Catalyst also congratulates Gerri Elliott, a corporate director and CEO-sponsored woman in the Catalyst Corporate Board Resource, on the founding of Broadrooms, a resource for executive women who serve or want to serve on corporate boards.