More Women Serve on Corporate Boards
The Spencer Stuart Board Index 2008 recently caught my attention and I would like to share a few of its findings. The index examines the state of corporate boards and governance among S&P 500 companies, and looks to see how boards have changed during the past decade. Although not focused solely on women, the index outlines changes in the corporate governance landscape that could mean major opportunities for first-time women directors, and for women who want to serve on corporate boards but who are not an active CEO.
The index's statistics indicate that more and more women are serving on S&P 500 boards:
- Eighteen percent of new directors are women (while that percentage is slightly lower than in recent years, it's higher in the longer term).
- Almost 89% of S&P 500 boards include women (up from 85% in 2003).
- Fifty-six percent of S&P 500 boards include two or more women directors, while 16% include three or more women directors (up from 41% and 11%, respectively, in 2003).
- Women make up 15.7% of independent directors (that's an increase from 13.1% in 2003).
I'm pleased to see those findings and hope that the percentages continue to rise.
I recommend that you read the Spencer Stuart Board Index 2008 and tell me your thoughts. Has your company made an effort to increase the number of women directors? At my firm, two women attorneys serve on the board of directors, and we're trying to add more.
