December 2023 Report Summary
Companies continue to diversify board composition by appointing women to the board of public companies.
In December, women comprised 35.8% of new appointments to the boards of public companies. Public companies appointed 86 women to boards and 240 men to their boards. The pressure to increase diversity at the board level remains critical to ensuring the advancement of women moving into board positions.
While only 16 of the newly appointed women board members (18.8% of new women appointments) chose to self-disclose their race, boards must continue to diversify and the data continues to highlight the value of disclosure.
In December, Asian/Pacific Islander women took the lead in board appointments with 9 women each being appointed to public boards, making up 62.5% of all appointments. They are closely followed by 4 Black / African American women (25.0%). Companies such as The Honest Company, Inc., Dominion Energy, Inc., and Talkspace, Inc. are leading the way as part of a phenomenal group that have appointed diverse women to their boards.
Of the 86 women appointed to the boards of public companies, 43, or 50.0%, were first-time board appointments. In December, Healthcare companies led the way in the appointment of women followed by Technology, Industrials, and Consumer Cyclical companies, with appointed women filling 33.7% of board seats at Healthcare companies and 12.8% each at Technology, Industrials, and Consumer Cyclical companies. In the Technology industry, we see strides being made by women at companies like Microsoft Corporation.
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 and analyze not only the numbers, diversity and profile of the women being appointed to boards; but the companies and industries in which female board members are present and how many of the overall board seats are held by women.



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