2020 Gender Diversity Index

2014 Key Findings

Number of Women on Boards Continues to Increase: Of the 867 active companies, the percentage of board seats held by women increased to 17.7% in 2014, up from 16.6% in 2013.The percentage of board seats held by women in 2011, the first year of reporting, was 14.6%.

Women gained 90 board seats in 2014, which compares to 72 board seats gained in the same companies in 2013. This is net of those companies losing a female board member.

The number of Winning “W” Companies Increased, Zero “Z” Companies Decreased: The number of Fortune 1000 Winning “W” Companies Increased to 351 from last year's 316, representing both the largest number and the largest percentage to date. We are also gratified to see the number of Zero "Z" Companies decline to 93 companies, representing the smallest number and the smallest percentage to date. The number of Very Close “V” Companies decreased to 159 in 2014, from 167 in 2013; and the number of Token “T” companies dropped to 264, down from 292 in 2013.

All sectors increased the percentage of women, with the largest gains in Consumer Defensive, Real Estate and Utilities, all three of which are now greater than 20%. The Energy sector significantly lags other sectors at 11.5%.

Almost 80% of the companies that dropped off this year's Fortune 1000 Index were in the "T" or "Z" categories. Of the 26 net inactive companies, 8 are Zero "Z" Companies and 14 are Token "T" Companies. We think this is significant. Research has demonstrated that companies with women on boards are more profitable. While we cannot speak to causality, there is clearly a correlation between fewer women directors and failure to maintain a presence on the Index.