WASHINGTON, March 23, 2021 /PRNewswire/ — Despite some encouraging signs in specific regions, women's participation in the investment management industry has remained stagnant for more than 20 years, according to data presented during DE&I in the Investment Management Industry, a virtual Executive Roundtable hosted by the Women Business Collaborative, the Investment Adviser Association, and Morningstar. 

The data picture of women's underrepresentation in investment management was presented by Laura Lutton, Head of Asset Management Solutions at Morningstar and Sarah Maynard, Global Head of External Inclusion and Diversity Strategies and Programs at the CFA Institute.

Strategies for creating a path forward to accelerate change were offered by three leading asset management CEOs with more than 85 years of combined experience and overseeing more than $4.5 trillion in assets: Yie-Hsin Hung, CEO of New York Life Investment Management; Jenny Johnson, President & CEO of Franklin Templeton; and Michelle Seitz, Chairman & CEO of Russell Investments. The roundtable was moderated by former Oak Hill Advisors Partner Alex Jung and Investment Adviser Association President & CEO Karen Barr.

Globally, the rate of women mutual fund managers is unchanged since 2000 at about 14 percent, according to new data presented by Morningstar's Lutton. There are bright spots – the representation of women in parts of Asia is north of 20 percent and is approaching 30 percent in China. But in the U.S. and U.K. the rate is below the global average.

One point of encouragement is that more women are in the talent pipeline, seeking the professional credentials necessary to be competitive in the investment management industry. The CFA Institute's Maynard noted that between 2015 and 2020, the participation by women in the CFA Program grew from 32 percent to 41 percent.  In real numbers, the number of women candidates for the CFA designation doubled over that period, from 70,000 to 140,000.

Continuing to build reliable data sets is crucial to building strategies for change. Each of the CEO panelists provided insights for accelerating positive change.

Franklin Templeton President & CEO Jenny Johnson said investment management executives need to view the hiring and promotion of women as "an unbelievable opportunity. If you have an underutilized group of very talented individuals, you have to look at it as an incredible investment opportunity. Firms must look critically at their practices to see what they are doing to build a pipeline and ensure advancement opportunities for women.  We must advocate for groups that have been historically underrepresented to start joining investment management firms and to envision themselves in our industry in the future. Firms need to help plant the seed early at the foundation of their careers."

"You have to resource this effort like any major strategic initiative with commitment from the top and embed diversity and inclusion into every step of our processes around talent, in interviews and promotions, to increase the likelihood of achieving the outcome we all desire," said New York Life Investment Management CEO Yie-Hsin Hung. "As women leaders, there's also an opportunity for us to bring more women into our industry by sharing our stories with the next generation and better connecting what we do to making a difference in peoples' lives."

"We have the women taking the exams, graduating from esteemed universities, and applying for jobs. We need to make sure that once they're in our pipeline, we provide opportunities to get them on track for promotions and leadership roles," Said Russell Investments CEO Michelle Seitz. "We need to attract and retain people once they're in the field."

A recording of the executive roundtable DE&I in the Investment Management Industry is available online.          

Women Business Collaborative

Women Business Collaborative is an alliance of business women's organizations working together to achieve equal position, pay and power for all women in business. We are a social movement consisting of millions of diverse, professional women and men, business organizations, public and private companies and the media leveraging the power of collaboration to accelerate change.

Investment Adviser Association

The Investment Adviser Association (IAA) is the leading trade association representing the interests of fiduciary investment adviser firms. The IAA's member firms collectively manage more than $25 trillion in assets for a wide variety of institutional and individual investors. In addition to serving as the voice of the advisory profession on Capitol Hill and before the SEC, DOL, CFTC and other U.S. and international regulators, the IAA provides extensive compliance and educational services to its membership. For more information, visit or follow us on LinkedIn, Twitter and YouTube.

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The Company offers an extensive line of products and services for individual investors, financial advisors, asset managers, retirement plan providers and sponsors, and institutional investors in the debt and private capital markets. Morningstar provides data and research insights on a wide range of investment offerings, including managed investment products, publicly listed companies, private capital markets, debt securities, and real-time global market data. Morningstar also offers investment management services through its investment advisory subsidiaries, with approximately $227 billion in assets under advisement and management as of Dec. 31, 2020.

SOURCE Women Business Collaborative

From C-Suite to Boardroom – Women's History Month Series to Guide Path to Gender Diversity. Originally published for PR Newswire on 3/08/21 and found on Expert Click. com

WASHINGTON, March 8, 2021 /PRNewswire/ — Throughout Women's History Month, the Women Business Collaborative is hosting a series of events to demonstrate how women rise to CEO, C-Suite and Board positions; the best practices in Diversity, Equity, and Inclusion (DE&I) and progress in industries like investment management and staffing; and how we can weave together a movement of women of all colors and backgrounds. The WBC is speaking with CEOs and executives from across industries about the importance of women's leadership and equity across businesses.

"It's exciting to see a new critical mass pushing for greater gender equality and diversity," stated Edie Fraser, WBC's Chief Executive Officer. "With these events, we are looking to harness that momentum and make sure these efforts are front and center this year."

WBC is partnering with RestaurantHER to highlight, celebrate, support and grow the number of women-led restaurants, especially those impacted by COVID. Together, we'll raise awareness and encourage Americans to support local women-owned restaurants throughout the month of March, throughout the year and beyond.

Join us on Monday, March 8th to raise a glass for equality with Women of the Vine and Spirits and participate in what is anticipated to be the largest virtual toast for gender equality in history. Also, on March 8th, WBC and Million Women Mentors are hosting a cross-sector of leaders to discuss how we can actively choose to challenge convention.

On Wednesday, March 10th, C200, Equilar, and the Pepperdine Center for Women in Leadership will announce an upcoming report that takes an in-depth look at how a woman's social network has the potential to lead to more women acquiring board appointments. Key finding: 92 percent of board seats are filled through networking.

On Thursday, March 18, WBC, the Investment Adviser Association, and Morningstar Research will co-host an Executive Roundtable to discuss DE&I in the investment management industry. The industry CEOs and leaders on this panel will discuss the latest data on women in the industry and the path forward.                                                                                                              

On Tuesday, March 23, IBM and WBC are hosting a global conversation on how to weave a diverse movement for gender equity. We will discuss how all diverse women and men can work together to build equitable pathways and truly engage to promote women's leadership.

Join us Friday, March 24 for our monthly RT series with CEOs talking about the importance of diversity in leadership and how we got to the strong call to action in 2021 for more diverse women in leadership positions.

Finally, on Wednesday, March 31, we will talk with NetApp and Capital One about allyship in DE&I and what practices work across sectors including the technology and financial services industry.

WBC looks forward to discussing how we are accelerating progress towards women's leadership throughout 2021 in our monthly executive and CEO RT series and chats. Look for more information in Women Leadership Magazine USA's March issue on the WBC and Join us as we are #WBCFasterTogether.

WBC is partnerning with Grubhub for their Restaurant HER initiative — in celebration of Women's History Month and amidst the pandemic, women owned businesses and restaurants need to flourish more than ever.

CHICAGO, March 1, 2021 /PRNewswire/ — In recognition of Women's History Month, Grubhub is strengthening and expanding its commitment to grow the number of women-led restaurants, especially those impacted by COVID. It was four years ago with the creation of RestaurantHER that Grubhub first started using its technology platform to drive change and respond to the issues facing women in the restaurant industry. The company pledged to champion and support women-led restaurants, raise awareness about inequality in the industry and help improve things for the better.

As Grubhub kicks off its fourth year of RestaurantHER, we're working with World Central Kitchen (WCK) and the Women Business Collaborative (WBC) to support and help amplify our ongoing efforts for women in the culinary industry.

RestaurantHER comes this year as women have lost the most jobs during the pandemic. In January 2021, women were still down 5.4 million jobs, which makes up 55 percent of total jobs lost. The restaurant industry was among those most impacted by COVID, and a majority of the workforce are women. Before COVID, female restaurant workers (especially owners and chefs) struggled to grow due to lack of sponsorship, funding and even workplace harassment. As a result, there are fewer women at the leadership level in restaurants. And now those numbers are dwindling even further.

"We are hopeful that across the country, RestaurantHER will spark a movement of support for women-owned and operated restaurants," said Devry Boughner Vorwerk, Chief Corporate Affairs Officer at Grubhub. "Women restaurateurs are highly capable business leaders in the industry, and they often face barriers that their male counterparts do not. This month, and every month, at Grubhub, we want to shine a light on women-led restaurants and all the benefits these women bring to their communities through their dedication, their creativity and their cuisine."

Since Grubhub began the RestaurantHER initiative in 2018, we've seen talented and aspiring chefs who have been able to succeed in part because of the resources and programs of RestaurantHER. Our incredible partners and diners have played a significant role in helping Grubhub work toward change. We worked with organizations such as the James Beard Foundation and Women Chefs & Restaurateurs to provide grants and tools for female chefs and culinary leaders to navigate and address the specific challenges they face in the industry. Additionally, Grubhub created a RestaurantHER map where diners can find a women-led restaurant near them.

To continue our efforts, Grubhub is supporting World Central Kitchen's Restaurants for the People program and specifically restaurants that are women-owned and operated. Grubhub will support these efforts through the Donate the Change program during Women's History Month, where diners are invited to join us in helping these women. Grubhub's Donate the Change feature allows diners who opt-in to round up their change on every order. All proceeds will go to World Central Kitchen to provide nourishing meals to help vulnerable communities impacted by the pandemic. Last year, Grubhub diners across the country generously donated a total of $21 million to support various organizations and communities in need through Donate the Change.

"We are grateful for Grubhub's support and belief in our mission, and recognition that restaurants are a key part of the solution to the ongoing health, economic, and humanitarian crises. Their support will specifically help women-owned and operated restaurants that are a part of our Restaurants for the People program, which pays restaurants directly to help keep their business afloat while also providing tens of thousands of meals to people in need," said Erin Gore, Vice President of Development at World Central Kitchen.

Grubhub is also excited to kick off a partnership with the Women Business Collaborative, an alliance of more than 44 women business organizations and thousands of individuals who are committed to gender equality in the workplace. Together, we'll raise awareness and encourage Americans to support local women-owned restaurants throughout the month of March and throughout the year. We'll also form an advisory board in 2021 composed of female restaurant owners to discuss issues in the industry and ways Grubhub and others can help.

"The time is now for all of us to commit to order from women-owned restaurants and tell the stories of our support in every community across this nation. We are devoted to this effort with RestaurantHER and Grubhub," added Edie Fraser, CEO of Women Business Collaborative.

World Central Kitchen will also be Grubhub's donation partner for our popular virtual concert series Sound Bites, which will feature performances by Megan Thee Stallion, Noah Cyrus and King Princess. Fans tuning in will be encouraged to scan customized QR codes that will pop up throughout the show to receive special discounts and Perks, along with exclusive behind-the-scenes footage from King Princess. For every QR code scanned at one point during the live stream, Grubhub will donate $1 (up to $100,000) to World Central Kitchen. The free Sound Bites concert will take place on Friday, March 26 at 7 p.m. ET on the Grubhub YouTube channel.

Grubhub's commitment to support women in the restaurant industry will continue as long as it takes to see equality, and we hope our community of diners will join us by supporting female chefs and owners, and their delicious culinary creations, year-round. Visit the Grubhub app, or to find a women-led restaurant near you.

See the press release on Grubhub's website

About Grubhub
Grubhub (NYSE: GRUB) is a leading online and mobile food-ordering and delivery marketplace with the largest and most comprehensive network of restaurant partners, as well as over 31 million active diners. Dedicated to connecting diners with the food they love from their favorite local restaurants, Grubhub elevates food ordering through innovative restaurant technology, easy-to-use platforms and an improved delivery experience. Grubhub features over 300,000 restaurants and is proud to partner with over 265,000 of these restaurants in over 4,000 U.S. cities. The Grubhub portfolio of brands includes Grubhub, Seamless, LevelUp, AllMenus and MenuPages.

Published for PR Newswire in February, 2021 — Study also finds that staffing industry lacks diversity, an issue women in leadership are more likely to prioritize

WASHINGTON, Feb. 26, 2021 /PRNewswire/ — The WBC Staffing Council – a workstream within the Women Business Collaborative (WBC), in partnership with executives representing staffing industry associations American Staffing Association (ASA), National Association of Professional Staffing (NAPS), Staffing Industry Analysts (SIA) and TechServe Alliance,  today announced the dissemination of their initial survey of 489 companies on gender diversity and equity within the U.S. Staffing Industry. The survey found that the percentage of women executives in the staffing industry is not above 20%

In late 2020, the WBC Staffing Leadership Council launched its efforts to accelerate diversity, equity and inclusion in staffing industry.  Their initial efforts called for a coordinated approach to providing the awareness of the status of diversity across the industry, as well as subsequent efforts to guide efforts towards a more balanced environment. The initial survey results largely reinforce our perception of opportunity to improve both representation and compensation equity from a gender diversity perspective.  Key observations from the survey include the following:

There is a profound pay gap between women and men – both within the industry and across the U.S. as a whole.

The staffing industry has a fair balance of men and women across its workforce, however imbalance occurs as leadership levels increase, with an underrepresentation of women in senior leadership roles.

Women CEO's bring a unique perspective to leadership – they are more likely to drive initiatives that create a stronger more balanced culture (including priorities around diversity).

There is a lack of racial diversity across this industry with people of color comprising well under 10% of all staff.

"The data in this survey and dashboard this represents a significant opportunity to drive opportunity for promotion and pay equity in leadership roles" states Edie Fraser, CEO of the Women Business Collaborative.  "The staffing industry supports the employment of nearly 10 million job workers on an annual basis.  By encouraging a more diverse and equitable workforce composition across those businesses supporting this industry, we will by default better represent the workers we employ."

The WBC Staffing Leadership Council has made the results of the survey available for review and analysis through a dynamic data analytics dashboard.  Over the next several months the Council will begin to release a series of insights and observations resulting from our review of the survey results. This work will be done in collaboration with the work along the 9 Action Initiatives of the WBC which focus on ensuring equal position, pay and power for all women across all industries and throughout the pipeline.

To learn more about the WBC Staffing Leadership Council and how you can get engaged, please visit or contact Kip Wright, CEO Genuent, and Co-Chair for the Staffing Council.

About the Woman's Business Collaborative
The Women Business Collaborative is an alliance of 44+ women's business organizations working together to achieve equal position, pay and power for all women in business. We are a business movement consisting of millions of diverse, professional women and men, business organizations, public and private companies and the media leveraging the power of collaboration to accelerate change.

SOURCE Women Business Collaborative

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At the Women Business Collaborative(WBC), we are joining millions of others and the Marriott family, mourning the loss of Arne Sorenson, President, and CEO of Marriott International and recipient of our 2020 WBC CEO Leadership Award for Gender and Diversity Excellence. The outpouring of support of the Marriott workforce and the private sector overall is compelling for this extraordinary leader. Sorenson became the first person outside of the Marriott family to hold the title of CEO. Under his leadership, he expanded the company and was recognized repeatedly as a true champion for all women in the workforce and an exceptional executive.

In a company statement, Marriott International remarked on his ability to steer Marriott’s extensive progress for diversity, equity, and inclusion (2/16/2021).  Sorenson received great recognition for his leadership, being named CEO of the Year by Chief Executive magazine and was placed on Forbes’ list of America’s Most Innovative Leaders and Barron’s list of World’s Best CEOs.  At WBC, we were thrilled to join the list of prestigious awards given to Sorenson, recognizing him as a leader committed to gender equity and creating an inclusive environment for all employees. 


We had the pleasure of spending an hour with Sorenson, where he shared his admiration for Marriott’s tradition of empowering all people–men and women– through opportunity. He remarked, “Today, that commitment includes our Women’s Leadership Development Initiative, which aims to increase the presence of women in management or decision-making positions through mentoring, networking, and new opportunities. We’re working to achieve gender representation parity in global company leadership by 2025.” As a leader, he called on his peers to be authentic leaders. Sharing, “People notice. Over the years, I’ve found the presence of women executives on my team and across the company has attracted more women job candidates. Women can see a concrete path to opportunities here, and that’s critically important.” We hope that other executive leaders will follow in Mr. Sorenson’s footsteps and embrace their responsibility to provide critical opportunities to those often overlooked.
Thank you to two of our WBC board members, Becky Shambaugh, whose firm has partnered with Marriott for over 15 years in growing their women talent and for your championing of Arne for the WBC CEO award, and to Sharon Reynolds for your work with Marriott and its commitment to diversity and equity. 


We are honored to have met Arne Sorenson and recognize his leadership contributions. We believe that executive leadership has the power to reshape our world. With leaders like Arne, we will see our mission of Equal Position, Pay, and Power for all business women come to fruition. 


You can watch Arne Sorenson’s panel discussion at our 2020 Summit Here

Published on PR Newswire January 21st, 2021 — More diverse leadership in 2020

WASHINGTON, Jan. 21, 2021 /PRNewswire/ — As we reflect on the challenges we faced and opportunities 2021 brings, the Women Business Collaborative (WBC) and Equilar share good news from the private sector:  the number of women and diverse women appointed to board of public companies continues to increase.  In December 2020, public companies appointed 107 women to Boards of public companies as compared to 175 men.  Women comprised 37.8% of overall board appointments.  This reflects an upward trend in the 4th quarter of 2020 with women comprising on average 41% of appointees.

The appointments of women of color continues to rise. In December, 28 of the women appointed identified as women of color with women identifying as African American leading the way with 13 seats.  Nine of these African American women are first time board members – the pool of women holding board seats of public companies is growing. This is exactly what the WBC and its partners and champions are calling for – parity in leadership positions on all boards.

Edie Fraser, CEO of the WBC, said, "The latest data reflects that more companies are adding women, and the private sector is taking major steps towards true representation coupled with calls from groups such as Nasdaq to include at least one board member of diversity."

This upward trend demonstrates the attention the private sector is paying to calls for diverse leadership on boards. The call is for boards of public companies to look more like the composition of the population, communities, customers and public.

During 2020 the trend toward parity was positive.  Women gained a net of 1,055 seats on board of public companies and replaced 115 seats previously held by men. Overall, women gained 2.3% points of seats going from constituting 19.2% of board seats at the end of 2019 to 12.5% of board seats at the end of 2020.

Directors identifying as people of color comprised 12.5% of all the appointments in 2020. As this information is self-reported, it is important to note that the percentage of people of color appointed to public boards could be higher.

The overall trends across companies shows an increase in both the number of women and people of color appointed to boards of public companies. Equilar and WBC are tracking and analyzing the appointment of directors in terms of numbers, diversity and profile; but also, the companies and industries in which female board members are present and how many of the overall board seats are held by women. The time is now for women to sit across all companies, boards, and sectors.  Please, join us in celebrating, tracking, analyzing, and promoting women on boards of public companies.

The Women Business Collaborative (WBC) is an unprecedented alliance and a business women's movement focused on equal positions, pay and power for all business women.

SOURCE Women Business Collaborative

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Published for PR Newswire January 2021 — UPS, Clorox, Citigroup, CVS, and Dick's Sporting Goods named women CEOs pushing women into 7.8 percent of top corporate leadership. Additionally, women of color joined boards at record levels ensuring gains are widely shared.

WASHINGTON, Jan. 4, 2021 /PRNewswire/ — While the challenges of 2020 have led some women to leave the workforce due to the pandemic, others are rising to top levels of business, according to a new report. Women made gains in leadership roles in all sectors but private industry truly stepped up in the last year. This was more than simply platitudes and commitment statements but included accelerating the pace of appointments of women to the highest levels, showing results and being more flexible with its workforce during the pandemic.

"2020 might have been a difficult year, but this demonstrates that the time is now for women to move from C-Suite to CEOs and boards and all sectors," says Edie Fraser, CEO of the Women's Business Collaborative (WBC) which presented the report. "We expect accelerated progress in 2021. Expect accountability! Expect more good news."

Number of Women CEOs has risen from 6% 2019 to a projected 8.2% by Feb. 2021: WBC with C200 and Catalyst published the Women CEOs in America Report and website, the first report tracking women CEOs across public and private companies. In December 2019, Women held 30 (6.0%) of CEO positions in S&P 500 companies. At the start of 2020, women comprised 6.7% of CEO positions, and at the close of 2020, women, hold 7.8% of CEO positions. The numbers are rising with UPS, Clorox, Citigroup, CVS, and Dick's Sporting Goods naming women CEOs. We expect women CEOs to constitute 8.2% of CEOs by February 2021 and 15% of Fortune 500 and S&P roles by 2025 with 10% of those being women of color.

Women of Color and Women Overall are Taking Seats on Boards of public Companies: WBC and Equilar joined forces to publish a monthly report, Women Joining Public Boards – the first report listing and tracking women named to public company boards. In the last three months, an average of 40% of appointments are women with one-third of those identifying as women of color. In November 2020 of the 113 women appointed to public boards, 44 identified as women of color. This is historic given that in January 2020, no women were appointed to boards of public companies in the Russell 3000 index.

NASDAQ put forth its commitment requiring its 3,000+ companies listed to improve boardroom diversity by appointing at least one woman and at least one minority or LGBTQ+ person. WBC and members of its Women in the Boardroom Initiative (a total of 11 partner organizations) voice support for NASDAQ's commitment.  WBC calls for women to hold 30% of Fortune 500, S&P and Russell 3000 seats by 2025 and 10% of those women be women of color.

"As vaccines are dispensed, food insecurity and economic pressures becomes acute, racial inequities and injustice laid bare and the Black Lives Matter movement recognized, this is truly good news of the accelerated results for women's leadership in the private sector, particularly for women of color," concluded WBC COO Gwen Young.

SOURCE Women Business Collaborative

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WASHINGTON, Dec. 18, 2020 /PRNewswire/ — WBC announced the appointment of Rebecca (Becky) Shambaugh to its Board of Directors, effective October 2020. She has been an active member of the Advisory Council, acts as the Co-Chair for the popular CEO Roundtable series and helps steer the Board's Corporate Development Committee.

Edie Fraser, the CEO of WBC, says: "The WBC is thrilled to have Becky as a member of our Board and Advisory Council as her deep expertise and decades of experience as a notable thought leader in the advancement of women leaders will help us drive progress for women in business everywhere."

Becky Shambaugh is an internationally recognized leadership expert, author, and keynote speaker on 21st Century Leadership. She is President of SHAMBAUGH Leadership, a consultancy firm that serves a global, F 500 client base, known for its results-focused solutions for creating inclusive work cultures that propel equity for all. Becky is the founder of Women in Leadership and Learning (WILL), one of the first executive leadership development programs in the country. She has been showcased on CNBC, TED Talks, NPR, and ABC and featured in the Harvard Business Review, the New York Times, Washington Post, Huffington Post, Time and Fortune magazines. She is author of the bestselling books, "It's Not A Glass Ceiling, It's A Sticky Floor" and "Make Room for Her: Why Companies Need an Integrated Leadership Model to Achieve Extraordinary Results," both published by McGraw-Hill.

Becky partners with clients such as: Capital One, Cisco, IBM, J&J, Leidos, Marriott, Mastercard, and Microsoft. She is a member of the National Press Club and Economic Club of Washington, D.C. and is an award recipient for Smart CEO Brava! and Women Who Mean Business.

The Women Business Collaborative (WBC), an alliance of 43+ women business organizations and many business and individual collaborating together to achieve equal position, pay and power for all business women. #WBCFasterTogether

SOURCE Women Business Collaborative

WASHINGTON, Dec. 14, 2020 /PRNewswire/ — WBC Women Joining Public Boards November Monthly Report, empowered by Equilar, clearly demonstrates the call for diversity is being heard by public companies. In November 2020, public companies appointed women to fill 112 seats, or 42% of the 266 overall appointments including 33 women who identified as women of color. Black women comprised 72.7% of those women. The 42% figure marks a rising trend for appointments and is up from the newsworthy 40.9% in October. November and October data show a doubling of women from a year ago and clearly women of color making huge gains.

The Women Joining Public Boards report shows the numbers, rates and profiles of women appointed to public boards with a focus on diversity and analyzes the industry sectors where women are participating on boards. Edie Fraser, CEO of WBC remarks, "We share this monthly report showing not only the numbers increase—doubling since 2019– but naming the companies and sharing the profiles."

112 women were named to public boards in November, 42% of board seats. Of the appointments, 56 of those were first time appointments. It's worth noting that this good news means more women are being appointed to the highest levels of public companies.

In November, 33 women identified as women of color, 72.7% of those being black women. This is a critical measure as diversity is at the forefront of business leadership and business practices in 2020. And progress is accelerating.

Healthcare companies continue to lead the way in appointing women closely followed by the companies in the technology and industrials sectors. The financial services industry is seeing an uptick in board appointments who are women including at Visa and Fidelity. The energy sector is showing growth too and appointed 7 women, including two at Oasis Petroleum.

The November 2020 report continues WBC's deep dive into the compilation and analysis of comprehensive data for women joining boards of public companies. The Women Business Collaborative (WBC), an alliance of 43+ women business organizations and many stakeholders representing tens of thousands of diverse professional men and women, collaborating together to achieve equal position, pay and power for all business women) is partnering with Equilar, the leader in corporate data, to produce this monthly report and drive our dashboard of data and women CEOs.

The rise in appointments is accompanied by calls from groups such as NASDAQ who want to require the more than 3,000 companies listed on its stock exchange to improve boardroom diversity by appointing at least one woman and at least one minority or LGBTQ+ person to their boards. NASDAQ said its decision is based on the significant link found between diverse boards and better corporate governance and financial performance. The Latino Corporate Directors Association, a member of the WBC Women on Boards Initiative, calls for many more Latinos on boards.

SOURCE Women Business Collaborative

WASHINGTON, Nov. 16, 2020 /PRNewswire/ — WBC Women Joining Public Boards October Monthly Report, empowered  by Equilar, shows a record number of women joining public boards. In October 2020, public companies appointed women to fill 125 seats, or 40.2% of seats filled—the largest number ever—including 44 women who identified as women of color.  Healthcare and Tech companies led the way. 


The October 2020 report is the first time comprehensive data for women joining boards of public companies has been compiled and analyzed.  The Women Business Collaborative (WBC), an alliance of 43+ national women business organizations and many stakeholders collaborating together to achieve equal position, pay and power for all business women, is partnering with Equilar, the leader in corporate data, to produce this monthly report.

The Women Joining Public Boards report shows the numbers, rates and profiles of women appointed to public boards with a focus on diversity and analyzes the industry sectors where women are participating on boards.  Edie Fraser, CEO of WBC, shares that “The time is now for women to sit across all boards.  Join us in tracking, analyzing, promoting, and celebrating women on boards of public companies.”   Ana Dutra, Chair of WBC Board Initiative, is clear: “This must become a trend over time and we will hold companies accountable.”

123 women were named to public boards last month, 40.2% of board seats; and two of those women joined the boards of more than one company.  It is noteworthy that several high-profile women are included in the list, that they sit across industries and so WBC and Equilar can track diversity.

In October, 44 women identified as women of color with 34 of those identifying as African American. This is a critical measure as diversity is at the forefront of business leadership and business practices in 2020. And progress is accelerating. For example, in January 2020 no women appointed to boards of public companies listed in the Russell 3000 index identified as women of color while in October that number is 30.

Health Care and Tech Leadership: Companies named in the report represent various industries to include high-tech, biotechnology/pharmaceutical, energy and retail. 21% of women were appointed to boards of public companies in the healthcare sector and 17.6% ofwomen appointed were appointed to boards of public companies were in the technology sector including African American women appointed to the Boards of Adobe and Inuit.

The increase in the number of women appointed to boards of public companies also increases the number of seats women hold overall. According to the Women on Boards 2020 Gender Equality index women hold 22.6% of board seats of the Russell 3000 companies prior to October.  Women joined the board of 23 companies in the Russell 3000 index in October and we are working to track the share of seats women hold across not only companies in the Russell 3000 index but all public companies.

David Chun, CEO of Equilar,  is proud to share “we are excited to partner with WBC and its members to issue this Monthly Report on Women Joining Public Boards with data and profiles to change and support underrepresented groups across the country.” WBC and Equilar will continue to track not only the women, in terms of numbers, diversity and profile; but the companies and in which industries are women board members and how many  of the overall board seats are held by women.

SOURCE Women Business Collaborative