April 2023 Report Summary

As we begin out this year, companies continue to diversify board composition by appointing women to the board of public companies.

Companies continue to diversify board composition by appointing women to the board of public companies. In April, women comprised 28.9% of new appointments to the boards of public companies. Public companies appointed 78 women to boards and 192 men to their boards. The number of women being appointed to boards has decreased since the beginning of the year.

While only 18 of the newly appointed women board members (23.08% of new women appointments) chose to self-disclose their race, we continue to see diversification and continue to highlight the need to disclose. In April, Asian / Pacific Islander women took the lead in board appointments with 9 women being appointed to public boards, making up 11.54% of all appointments. They are closely followed by 8 Black / African American women (10.26%). Republic Bancorp, Splunk Inc., and Trex Company are some of the companies that appointed this phenomenal group of diverse women to their boards.

Of the 78 women appointed to the boards of public companies, 39, or 50%, were first time board appointments. In April, financial services companies led the way in the appointment of women followed by industrials and healthcare companies; with appointed women filling 26.92% of board seats at financial services companies, 17.95% at industrials companies, and 14.10% at healthcare companies. In the financial services industry, we see strides being made by women at companies like Visa Inc.
companies. In the consumer cyclical industry, we see strides being made by women at companies like Marriott International.

Equilar and WBC are tracking and analyzing the growth and rotation of board seats on public companies and the expanding candidate pool. We will continue to track not only the women in terms of numbers, diversity and profile; but the companies and industries in which female board members are present and how many of the overall board

seats are held by women. Please join us in celebrating, tracking, analyzing, and promoting women serving on corporate boards.