2020 Women on Boards Launches New York Chapter
Women represent 17.5% of corporate board seats in 94 New York-based Fortune 1000 companies, according to 2020 Women on Boards, a national campaign to increase the percentage of women who serve on the boards of U.S companies to 20% or greater by 2020. New York's numbers compare favorably to the national average of 14.6 percent. The New York numbers were released at an event last week celebrating the 2020 Women on Boards New York Chapter launch which included members of the city's leading women's business organizations. CNN's Soledad O'Brien was the featured speaker.
Stephanie Sonnabend, 2020 Women on Boards co-founder and Chairman, and CEO of Sonesta International Hotel Corporation, presented the findings of the 2020 Gender Diversity Index, which quantifies gender diversity on the boards of the 2010 Fortune 1000 list. Companies in the 2020 Index fall into four categories: Winning "W" Companies (20% or greater); Very Close "V" Companies (11 - 19%); Token "T" Companies (1 woman) or Zero "Z" Companies (0 women).
Of the 94 New York companies on the Fortune 1000 list 33 percent are Winning "W" Companies; 36% are Very Close "V" Companies; 17% are Token "T" Companies and 14% are Zero "Z" Companies.
According to Sonnabend, "If the New York companies on the list added between 89 and 106 women they would reach the 20% benchmark. If everyone attending this event provided the name of 1 qualified woman, we'd reach the goal. The goal is realistic. It's achievable. It's now time for companies to take the 2020 Pledge to add a woman within two years and reach 20% by 2020."
New York organizations supporting the 2020 campaign include: 85 Broads, Catalyst, High Water Women, National Council for Research on Women; Responsible Endowment Coalition, The Transition Network; Women Corporate Directors, Women's Forum of New York, Women's Presidents' Organization.
About 2020 Women on Boards: 2020 Women on Boards (www.2020wob.com)is a national campaign to increase the percentage of women on corporate boards to 20% or greater by 2020. The campaign redefines good corporate governance and gender diversity standards and creates a cultural imperative for corporate action. Founded in 2010, the 2020 campaign has chapters in Massachusetts, New Orleans, New York and will launch a Florida campaign in January 2013. For more information contact info@2020WOB.com.
2020 Gender Diversity Index Methodology: The 2020 Index is compiled using the 2010 Fortune 1000 list. Data was confirmed as of August 1, 2011.