December 2022 Report Summary
As we close out the year, companies continue to diversify board composition by appointing women to the board of public companies.
In December, women comprised 32.05% of new appointments to the boards of public companies. Public companies appointed 75 women to boards and 159 men to their boards. The pressure to increase diversity from the C-Suite to the board level remains as the year ends on a downward trend.
While only 24 of the newly appointed women Board members (32% of new women appointments) chose to self-disclose their race, we continue to see diversification and continue to highlight the need to disclose. In December, Asian/Pacific Islander women took the lead in board appointments, with 12 women being appointed to public boards, making up 16% of all appointments. They are closely followed by 8 Black/African American women (10.7%). Hennessy Advisors, Enterprise Financial Services, and Euronet Worldwide are some of the companies that appointed this phenomenal group of diverse women to their boards.
Of the 75 women appointed to the boards of public companies, 36 (or 48%) were first-time board appointments. In December, healthcare companies led the way in appointing women, followed by tech and financial services companies, with appointed women filling 25.33% of board seats at healthcare companies and 16% appointed to financial services boards. In the tech industry, we see strides being made by women at companies like Intel Corporation.
Equilar and WBC track and analyze the growth and rotation of board seats in 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.