Every company in the S&P 500 now has a woman on its board of directors. In July, Diane Morefield executive vice president and chief financial officer of real estate investment trust, CyrusOne joined the board of the Dallas-based, online car auction site, Copart.
According to Equilar, a research firm that analyzes companies’ boards, women now make up 27% of all board seats. This is a nearly 17% increase since 2012, when one in eight S&P 500 boards was still all male.
More significantly, Equilar anticipates that gender parity across the Russell 3000 will be achieved by 2034.
This past March, Equilar released the following statement, quoting Susan Angele, Senior Advisor of Board Governance at KPMG’s Board Leadership Center,
“There are various factors that are driving progress towards gender equality on boards, including pressure from investors and proxy advisors and, more recently, legislative efforts. California recently passed a piece of legislation that will require public companies headquartered in California to have a minimum of one female on its board of directors by December 31, 2019. That minimum will be raised to at least two female board members for companies with five directors or at least three female board members for companies with six or more directors by December 31, 2021.
“The law is a reflection of a common concern—impatience with the slow pace of change in the boardroom. Boards today need a broad range of perspectives around the table, and the spotlight on gender diversity will continue to increase—not only in California but with institutional investors and other stakeholders.”
Kristine Kopsiaftis Lampert, Managing Director Fulcrum Partners adds, “Women are an integral part of the corporate world. We account for half of the workforce and more than half of consumer spending. Bringing diversity of thought and experience to the boardroom allows for better decision-making which is why statistically companies that have women on their board outperform those that do not[i].”
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