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LOS ANGELES – National advocacy group 2020 Girls on Boards announced currently that girls hold 20.four% of the board seats on publicly traded firms in the Russell three,000 Index, exceeding its namesake aim a complete year ahead of schedule that girls would hold 20% of corporate board seats by the year 2020.
“We beat the 20% aim thanks to constant and proactive efforts by shareholders, enlightened corporate CEOs, and our national 2020WOB analysis and public awareness campaign,” stated 2020 Girls on Boards co-founder Stephanie Sonnabend.
“The pendulum has swung from a glacial lack of progress to visible forward momentum,” added 2020 Girls on Boards co-founder Malli Gero.
2020 Girls on Boards, the national advocacy and analysis organization devoted to escalating gender diversity on corporate boards, analyzed information on the Russell 3000 firms offered by Equilar. They discovered these firms added 941 board seats more than the previous year—a price of escalating gender diversity that was 30% quicker than in preceding years.
Extra important findings of the 2020WOB Gender Diversity Index for 2019 involve:
60% of the 941 female board seats added this year have been new seats developed by expanding the boards, not by replacing male directors.
In spite of reaching the 20% milestone, girls hold only five,261 board seats of the total 25,770 directors of the Russell 3000 corporations.
Comparing 2019 to 2018, the Russell 3000 listed two,712 firms for each years. Of these, 793 firms (about 1-third) added girls directors in the previous year.
17 states, compared to only 4 states in 2018, now have surpassed 20% girls on boards amongst corporations headquartered in their states.
311 firms have no girls directors, 1/three of firms have just 1.
Betsy Berkhemer-Credaire, CEO of 2020WOB added, “While there nevertheless remains a big gap from today’s 20% to 50% parity, we are pleased and proud that our nationwide campaign has played an influential part in this accomplishment. This is strictly a small business issue—a preponderance of analysis has demonstrated that firms execute superior in profitability and productivity when they have girls on boards. Enlightened firms now recognize that it is a competitive benefit to have small business-savvy girls on their boards.”
Excellent corporate selection-producing needs the potential to hear and take into account various points of view, which comes from men and women who have various backgrounds, experiences, and perspectives. Much more diversity on corporate boards leads to superior shareholder returns, diversity of thought—which benefits in superior selection making—and a competitive benefit, offered diverse boards are superior positioned to thrive in today’s international economy exactly where swiftly altering financial realities demand nimble, strategic and nicely-informed directors.
The annual 2020WOB Gender Diversity Index will be accessible this fall at 2020WOB.com, citing trends for the year, comparing the Russell 3000 corporations nationally, by state, sector sector, size, and quantity of girls on every board.
About 2020 Girls on Boards
2020 Girls on Boards (2020WOB) is a international education and advocacy campaign committed to creating public awareness and momentum toward escalating the numbers of girls directors on corporate boards. Its namesake aim of 20% girls on boards has been accomplished in 2019, a year earlier than anticipated in 2020—the year selected to honor the 100th anniversary of women’s proper to vote in the U.S., the 19th Amendment.
2020WOB educates stakeholders, guys and girls, about the small business positive aspects of gender diversity on boards. To present the public straightforward access to on line data, 2020WOB developed its “Gender Diversity Directory” to inform small business leaders, shareholders, customers, and news media about the numbers of girls directors on Russell 3000 boards, sortable by state, sector, organization name, size, and ranking.
By way of its annual National Conversation on Board Diversity, and “Get on Board” workshops, 2020WOB educates girls about how to navigate their personal careers toward corporate boards. The 2019 National Conversation on Board Diversity will be held on November 21st in extra than 30 U.S. and international cities.
Established in Boston, 2020WOB is a 501c3, educational nonprofit. Headquarters and employees are now positioned in Los Angeles, CA.