Title

Finally, One Company Taking Action On The Lack Of Female Directors

Document Type

Media Mention

Publication Date

3-17-2017

Source Publication

Crain's Chicago Business

Description

The dearth of women leading our nation's companies has been a topic of conversation for years. But it became an action item when State Street Global Advisors announced March 7 that it would begin demanding change at firms without any female directors by voting against board members who don't make gender diversity a priority.

The company has a point. Women hold just 20.2 percent—only 1 in 5—of Fortune 500 board seats, according to Missing Pieces, a census of women and minorities on Fortune 500 boards published in February by the Alliance for Board Diversity.

What's more, a 2016 report shows that only 26.9 percent of open director positions went to women in the past year, and nearly a quarter of S&P 500 companies had only one female board member. Sadly, the study also shows that women hold just 21 of the CEO positions in the S&P 500—a paltry 4.2 percent.