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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.
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.
Boards Pay Attention To Composition To Fund Off ActivistsValueWalk January 6, 2015
The Deloitte 2014 Board Practices Report was published last week, and it highlights that corporate boards did become more diverse last year under pressure from investors and activist groups. The Deloitte report noted that 18% of corporate boards surveyed indicated they increased the number of women on their board in the past year, but there was only limited improvement in minority board representation. Corporate boards also remain skewed towards older members, with no increase in the number of younger board members since 2012. In fact, over half of the companies surveyed said that their youngest director is above the age of 50.
The Broadsheet: November 25thThe Broadsheet December 25, 2014
Incremental gains. A new report finds that women now represent 18% of all directors on boards of Fortune 1,000 companies, up from 17% in 2012 and 15% in 2011. 2020 Women on Boards
New Corporate Governance Report Details Boardroom Trends, ’15 Focus AreasBloomberg BNA December 15, 2014
Strategy will be the top area of boardroom focus in the upcoming year, according to a Dec. 15 board practices report by Deloitte LLP's Center for Corporate Governance and the Society of Corporate Secretaries and Governance Professionals.
The ninth annual report, which stems from a survey of 250 public companies, also noted some mixed results regarding board tenure and turnover, finding that although age limits are increasing, they remain the main reason for changes in board composition. According to the report, “50 percent of all companies surveyed said their most recent director joined the board within the past year and another 20 percent said one year ago.”
The report further found that the most sought-after board skills and backgrounds remained constant from the 2012 report: related industry experience, C-suite experience, and international business exposure. The report noted that about one third of small-cap companies picked mergers and acquisitions experience.
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