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Senator Spilka Testifies on Bills for Women's Health, Equality and OpportunityFramingham Patch July 25, 2015
Senator Karen E. Spilka, a Democrat from Ashland who represents Framingham, testified at the State House in support of three important pieces of legislation to ensure equality and justice for women in Massachusetts.
The Joint Committee on Labor and Workforce Development heard testimony on Senator Spilka’s Women on Boards Resolution and the Equal Pay Bill, bills that would encourage equitable and diverse gender representation on boards of directors in Massachusetts and help to bridge the gender wage gap. The Joint Committee on Financial Services heard testimony on Senator Spilka’s bill to protect access to confidential health care, the PATCH Act.
The Women on Boards Resolution is a non-binding resolution to encourage companies to increase the number of women on their boards of directors and in their senior management ranks. California and Illinois have passed similar resolutions to improve gender diversity on boards in those states.
Boston Private Announces New Appointment to Board of DirectorsMarketWatch July 2, 2015
BOSTON, Jul 02, 2015 (BUSINESS WIRE) -- Boston Private Financial Holdings, Inc. BPFH, -0.87% (the "Company" or "BPFH") today announced the appointment of Lizabeth H. Zlatkus to its Board of Directors. Ms. Zlatkus was also elected to the Board of Directors of Boston Private Bank & Trust Company, a wholly owned subsidiary of the Company.
"We are pleased to welcome Liz to our Board of Directors," said Stephen M. Waters, Chairman of the Board of Directors of the Company and the Bank. “Liz brings extensive experience in the financial services arena where she has played pivotal roles in regulation and governance, and has deep experience in finance and risk management matters. She is a financial expert who has served as the Chief Financial Officer and Chief Risk Officer at The Hartford Financial Services Group. We believe her experience in these areas will be valuable to our Company as we continue to pursue our strategy to become a premier wealth management and private banking company in our target markets.”
Clayton G. Deutsch, BPFH Chief Executive, stated “Over the past year, we have been fortunate to add exceptional talent to our Board. With Liz as our newest member, we have further strengthened our expertise in audit and risk management, with a specific focus on the financial services industry. Liz is also very active in community organizations, and has expertise in leading large scale technology projects, including software and hardware initiatives. Her experience on a FTSE 100 Board, and as a senior executive of a US Fortune 100 company, will be a key asset for our Company as we drive our overall strategy. With the addition of Liz to our Board, we are also continuing our commitment to the 2020 Women on Boards campaign, where we now have a Board that is comprised of 40% women. We are delighted that Liz agreed to join us as we move forward.”
U.S. Companies Take Grassroots Approach when it Comes to Ensuring Gender Equity on Corporate BoardsPittsburgh Post-Gazette June 28, 2015
Among public companies in the Pittsburgh region ranked by the number of women on their boards of directors, the top spot belongs to Siemens — a German maker of industrial equipment and automated technologies with about 1,600 employees in and around the city.
Siemens has six female board members. Two other large international companies with a significant presence here, Bayer and GlaxoSmithKline, have four women directors apiece.
Only two Pittsburgh companies have as many: Mylan and PNC Financial Services. Verizon Communications, based in New Jersey but with major operations here, also counts four women on its board. Another dozen companies on the Post-Gazette Top 50 index of publicly-traded companies have three, while the rest have two or fewer, including eight firms with none at all.
Elusive Target: Women Securing Board ChairmanshipsHunt Scanlon Media June 19, 2015
According to the most recent 'Women in the Boardroom: A Global Perspective' report by Deloitte, representation of women on corporate boards continues to increase, but the number of women leading boards still remains low globally. Overall, women now hold 12 percent of seats worldwide with only four percent chairing boards.
European countries continue to lead on gender diversity in the boardroom, with Norway, France, Sweden and Italy among the countries with the highest percentage of women serving on boards. Regionally, countries in the Americas and Asia-Pacific have progressed the least. With respect to women chairs, the three regions have approximately the same percentage: EMEA (five percent), the Americas (four percent) and Asia-Pacific (four percent).
Navient Receives Best Board Diversity Initiative AwardGlobeNewswire June 19, 2015
Navient proudly received the award for Best Board Diversity Initiative at last night's New York Stock Exchange 2015 Governance, Risk and Compliance Leadership Awards. The Leadership Awards recognize "outstanding companies and individuals who have demonstrated noteworthy efforts in the areas of governance, risk, and compliance," and "underscore the role that corporate governance plays in dictating a company's success and a board's contribution to long-term value," according to the NYSE Governance Services.
The Best Board Diversity Initiative award recognizes Navient for its strong commitment to implementing and carrying out a successful program that promotes a broad definition of diversity at the board level and serves as a beacon to other public companies.
KAR Recognized as a W Company by 2020 Women on BoardsAuto Remarketing May 12, 2015
“The KAR group of companies is committed to creating an empowered, diverse environment for our more than 12,000 employees worldwide,” CEO Jim Hallett said. “We are proud of this recognition, and honored to have so many outstanding women professionals leading our board and teams.”
New German Law: A woman's place should be on corporate boardsUSA Today May 4, 2015
"Women make up 5.4% of the 200 top companies' executive boards [in Germany]. In the United States, among Fortune 500 companies, women held 19% of board seats last year — up from 16.4% in 2011, according to the advocacy group 2020 Women on Boards."
Gender Diversity in the BoardroomEquilar April 2, 2015
In recent years, the topic of gender diversity in corporate boardrooms has made its way to the forefront of governance discussions. Advocates of gender diversity on boards state that diverse backgrounds lead to an inclusive and collaborative environment that is essential to good governance, better financial performance, increased innovation and improvements in opportunities for women.
Corporations, Especially Media and Tech Companies, Should Clearly Commit to Gender Equality and Get Gender CertifiedHuffington Post March 12, 2015
Gender Quotas Not the AnswerThe Boston Globe March 11, 2015
Do quotas for corporate boards help women advance?Capital Ideas March 5, 2015
When Norway instituted a 2003 quota that 40 percent of corporate board members must be female, proponents hoped the measure would also pay off for women in the lower ranks. Even before seeing concrete results, more than a dozen other countries—from Sweden to Malaysia—quickly implemented similar quotas. Many of these countries had boards with an average of fewer than 10 percent women.
Such mandates could have mixed results, according to Marianne Bertrand, Chris P. Dialynas Distinguished Service Professor of Economics at Chicago Booth, who looked at Norway nearly a decade after the quota became law. In a study coauthored with Sandra Black of the University of Texas, Sissel Jensen of the Norwegian School of Economics, and Adriana Lleras-Muney of the University of California, Los Angeles, she finds that female directors have benefited from the law, but those improvements haven’t translated into higher average earnings for women broadly, or a markedly increased likelihood of a woman joining the C-suite.
What Holds Women Back From the BoardroomHuffPost Business January 7, 2015
Women still hold just a small number of corporate board seats. In 2014, only 17.7 percent of corporate directors of Fortune 1000 companies were women, according to the 2020 Women on Boards Gender Diversity Index.
At the same time, the "female economy" is on the rise. According to a study commissioned by the Global Banking Alliance for Women and supported by McKinsey & Co., women as a population segment could be called the "biggest emerging market" in the world, surpassing India and China combined. In the U.S., women comprise about half of the workforce, hold half of all management positions, and account for 10 million majority-owned, privately-held firms. Moreover, women are responsible for almost 80 percent of all consumer spending.
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