Female Representation on Corporate Boards Slips for First Time in Eight Years

By:
Chris Gaetano
Published Date:
Jun 20, 2017
iStock-484693620 Women Gender Power

Despite steady growth since 2009, the number of women on corporate boards has slipped for the first time in eight years, going from 30 percent in 2015 to 28 percent in 2015, according to Bloomberg. Bloomberg pointed to several factors as to why women still lag on corporate boards. One is that members tend to be drawn from former CEOs and CFOs, a demographic that historically tends to be heavily male. Another is that many board positions are gained through networking groups, the most influential of which also tend to be heavily male. Finally, there remain big differences in the importance of diversity on corporate boards: 24 percent of men say board diversity leads to better company performance versus 89 percent of women. 

Despite this, there are certain sectors where women continue to make gains. While representation has fallen 2 percent overall since 2015, it has grown 13.5 percent in the tech industry during the same time period, according to Bloomberg. A recent article in USA Today notes that one such company, TravelZoo, actually has the most female board members of any public company, with women filling 80 percent of board seats. 

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