December 2025 Report Summary
Companies continue to diversify board composition by appointing women to public company boards.
Women comprised 23% of new appointments to public boards of directors, with 41 women and 135 men appointed in December 2025.
The pressure to increase diversity at the board level remains critical to ensuring the advancement of women in boardrooms and professional environments overall.
While only 16% of the newly appointed women board members chose to self-disclose their race or ethnicity, boards must continue to prioritize both gender and racial diversity. The data continues to highlight the value of disclosure, as data gaps inhibit advocates and allies from understanding the complete picture of women’s representation on boards, especially for women of color (WOC), and where progress can be made.
In December, women who self-identified as Asian or Pacific Islander were represented highest in board appointments, with 3 women appointed to boards, making up about 7.3% of all appointed women.
Of the newly women appointed to the boards of public companies, 23 women, or 56.1%, were first-time board appointments. In December, Healthcare companies led the way in the appointment of women board directors with 24.4% of total appointments. Consumer Cyclical companies followed closely behind with women filling 22% of newly appointed board memberships.
Additionally, women affiliated with WBC Partner organizations also touted appointments in December, including Jaqueline Wright of The Executive Leadership Council, Michelle Hong of The Forum of Executive Women, Jill D. Smith of Women Corporate Directors, and Mona Aboelnaga Kanaan of Women in the Boardroom.
Finally, WBC acknowledges companies leading the way including Bill Holdings, Cannae, Clearfield, and SMJ International Holdings which reported the most women’s board appointments in December.
Equilar and WBC are tracking and analyzing the growth and rotation of board seats on public companies and the expanding candidate pool. Through our partnership, we will continue to track and analyze not only the count, diversity and profile of the women appointed to boards; but also the companies and industries where women are leading.
| Company | Director | Industry | Ethnicity |
|---|---|---|---|
| Abbott Laboratories | Dr. Nita Ahuja M.D.  | Healthcare | |
| Academy Sports and Outdoors, Inc. | Shannon Hennessy | Consumer Cyclical | |
| AGNC Investment Corp. | Christine Hurtsellers | Real Estate | |
| Andersen Group Inc. | Dorice Elizabeth Pepin | Consumer Cyclical | |
| Becton, Dickinson and Company | Jacqueline Wright | Healthcare | Black / African American |
| BILL Holdings, Inc. | Elizabeth S. Johnson | Technology | |
| BILL Holdings, Inc. | Natalie Marie Derse | Technology | |
| Cannae Holdings, Inc. | Chérie L. Schaible | Consumer Cyclical | |
| Cannae Holdings, Inc. | Mona Aboelnaga Kanaan | Consumer Cyclical | Middle Eastern / North African |
| Clearfield, Inc. | Kathleen S. Skarvan | Technology | |
| Clearfield, Inc. | Rebecca B. Seidel | Technology | |
| Compass Minerals International, Inc. | Denise M. Merle | Basic Materials | |
| Comtech Telecommunications Corp. | Mary Jane Raymond | Technology | |
| Elite Express Holding Inc. | Huanhuan Tian | Industrials | |
| ENvue Medical, Inc. | Alison Geiger Burgett | Healthcare | |
| ETHZilla Corporation | Angela Dalton | Healthcare | |
| Evolent Health, Inc. | Jill D. Smith | Healthcare | |
| First Watch Restaurant Group, Inc. | Rachel K. Tipograph | Consumer Cyclical | |
| Graco Inc. | Andrea Helen Simon | Industrials | |
| H.B. Fuller Company | Celine Martin | Basic Materials | |
| Hess Midstream LP | Barbara Frances Harrison | Energy | |
| HNI Corporation | Linda K. Williams | Consumer Cyclical | |
| JM Group Limited | Sze Wai Li | Consumer Cyclical | |
| Local Bounti Corporation | Kathleen Valiasek | Consumer Defensive | |
| MGP Ingredients, Inc. | Julie Maria Francis | Consumer Defensive | |
| Open Text Corporation | Margaret Stuart | Technology | |
| Regentis Biomaterials Ltd. | Susan Alpert Ph.D., M.D. | Healthcare | |
| SB Financial Group, Inc. | Sue A. Strausbaugh | Financial Services | |
| Silence Therapeutics plc | Rhonda Lynette Hellums | Healthcare | |
| SMJ International Holdings Inc. | How Fen Lee | Industrials | |
| SMJ International Holdings Inc. | Hsien Ng Hui | Industrials | Asian / Pacific Islander |
| Spruce Biosciences, Inc. | Keli Walbert | Healthcare | |
| Tetra Tech, Inc. | M. Susan Hardwick | Industrials | |
| ThredUp Inc. | Kelly Bodnar Battles | Consumer Cyclical | |
| Toppoint Holdings Inc. | Florence Ng | Industrials | Asian / Pacific Islander |
| WaterBridge Infrastructure LLC | Janet Langford Carrig | Energy | |
| Workhorse Group, Inc. | Fildeza Ujkashevic | Consumer Cyclical | |
| WSFS Financial Corporation | Michelle Hong | Financial Services | Asian / Pacific Islander |
| Xcel Energy Inc. | Maria Demaree Hutchinson | Utilities | |
| Zevra Therapeutics, Inc. | Alicia Secor | Healthcare | |
| Zoetis Inc. | Stephanie Tilenius | Healthcare |
