Fortune 500 Shows Little Change in Women and Minorities Board Representation
The Alliance for Board Diversity (ABD), a collaboration of four leadership organizations including Catalyst, released its Missing Pieces Report: The 2016 Board Diversity Census of Women and Minorities on Fortune 500 Boards. The study shows that nearly 70% of board seats in Fortune 500 companies are held by Caucasian/White men. Women and minorities hold 30.8% of Fortune 500 board seats, and women of color hold 3.8%. The New York Timesreported on the findings and the overall lack of progress made for diversity on corporate boards. Do American boards reflect the diversity of the United States? Look at the report to find out.
The Rockefeller Foundation Awards $100K Grant to Catalyst Women On Board™
Catalyst Corporate Board Services is delighted to announce the receipt of a grant award from The Rockefeller Foundation to Catalyst Women On Board™, entailing the expansion and amplification of the Catalyst Women On Board™ initiative in the United States. Thank you very much to The Rockefeller Foundation for your generous support!
Twenty-six Corporate Board Appointments in 2016 for Catalyst Women On Board™
Congratulations to the 21 Catalyst Women On Board™ women who were appointed to 26 corporate boards in Canada and the United States in 2016! We would like to thank our mentor/sponsors for their support and guidance to their partners, as well as to the companies that appointed our participants to their boards.
2016 Global Board Diversity Analysis Addresses Global Board Composition Egon Zehnder published its seventh biennial report containing board composition data from nearly 1,500 of the largest companies across 44 countries in the world. The findings indicate that we are making slow, positive progress toward gender parity around the globe, though variably across countries, with women holding close to 19% of seats on the boards of the world’s largest companies. Visit the 2016 GBDA Data Visualizer to review the findings.
Catalyst Corporate Board Services “On the Move”
Bloomberg interviewed Catalyst President and CEO Deborah Gillis about promoting gender diversity in the boardroom, including ways companies can intentionally build their pipelines of talent to address diversity in leadership roles and corporate boards, such as through sponsorship.
In a recent Fortunearticle on diversity in the boardroom in the United States, Brande Stellings, Vice President, Corporate Board Services, highlighted the benefits of term limits and diversity policies for boards, emphasizing that disclosure and asking the right questions does have an impact upon board diversity.
Tanya van Biesen, Executive Director, Catalyst Canada, addressed the fact that Canadian companies and industries are making strides slowly and unequally, despite the Comply or Explain regulation, in a Financial Postarticle. In the same article, she also suggested strategies for companies to diversify their boards, such as broadening the scope of those they deem to be qualified board candidates. She writes, “If you define merit as only ever having been a CEO, then that’s a problem.”
Tanya van Biesen also testified in support of Bill C-25, a federal Canadian bill that will require Canadian companies to publish the gender composition of their boards and disclose whether or not they have diversity policies, and if not, explain. She stated: “Bold action is required to accelerate progress for women on boards.”
Stay tuned for the launch of our new, online searchable Women On Board™ Source directory!
Did You Know? A study finds that women and minorities serving on corporate boards are compensated at about a 3% to 9% lower rate than white men serving on the same boards.