Women Directors Advance in 2004 Spencer Stuart Board Index Editors: This release corrects the original issued on August 30, which

inaccurately stated the composition of the Board of Directors of Golden West

Financial Corporation and Avon



    NEW YORK, Sept. 21 /PRNewswire/ - New research by Spencer Stuart, the
 global executive recruiting firm, reveals a significant increase in new women
 directors in 2004.
     Of the 443 new independent directors reported in S&P 500 company proxies
 in 2004, 105, or 24 percent, were women compared to 74, or 19 percent of new
 directors in 2003.  Spencer Stuart said it believes this was the largest
 number of new women directors ever added to S&P 500 companies in one year.
 Overall, the number of new independent directors in 2004 was 13 percent higher
 than in 2003.
     Companies with the greatest percentage of women directors included Golden
 West Financial Corporation with five women out of nine directors for a total
 of 56 percent of the board, Avon Products, Inc. with six women out of 11
 directors for a total of 55 percent and Albertsons with five women out of 10
 directors for a total of 50 percent. Twelve firms had four women directors and
 53 firms had three women directors.  (A chart with companies that have 30
 percent or more women directors is appended to this release.)
     A total of 87 percent of S&P 500 boards now have at least one woman
 director, up from 85 percent in 2003 and women directors now represent 16
 percent of the total number of directors, up from 13 percent in 2003.
     "This trend in adding women to boards tracks with Spencer Stuart's
 director recruitment practice," said Julie Daum, Spencer Stuart's North
 American Leader, Board Services Practice.  "In the last 18 months, less than
 10 percent of clients specifically requested a women director, but 23 percent
 added a woman to their boards.  In the last five years, Spencer Stuart has
 recruited 200 women for boards, 50 of whom were for companies outside the U.S.
 We believe more women are entering boards because there are more women with
 strong business backgrounds available, boards are more receptive and boards
 have changed recruitment processes to allow women with different backgrounds
 to be considered."
     Spencer Stuart extracted information for this year's 19th-annual Spencer
 Stuart Board Index (TM) (SSBI) study of corporate governance in S&P 500
 corporations directly from company proxies.  The firm also researched company
 web sites to determine what firms say about corporate governance and conducted
 a separate survey to assess corporate governance issues not recorded in
 proxies.
     Spencer Stuart will publish the full SSBI study, including information
 about director compensation, by November 5, 2004, and it will also be
 available on the firm's web site at http://www.spencerstuart.com.
 
     About Spencer Stuart
     Spencer Stuart is the foremost privately held global executive search
 firm, spanning over 50 offices in 25 countries.  Since 1956, the firm has
 provided select clients with a range of human capital solutions, including
 senior-level executive search, board director appointments and strategic
 leadership services. Spencer Stuart conducts over 4,000 assignments each year,
 partnering effectively with clients ranging from the Fortune 500, to mid-cap,
 to emerging growth companies across a broad range of industries and sectors.
 
                        Corporations and Women Directors
 
               Firms that have 30 percent or more women directors
 
 
                                          Total No.
                            No. of Women     of              Women as a % of
     Company Name             Directors   Directors                Total
 
     Golden West Financial       5            9                     56 %
     Avon Products               6           11                     55 %
     Albertson's                 5           10                     50 %
     Pepsi Bottling Group        4           10                     40 %
     Gannett                     3            8                     38 %
     Boise Cascade               4           11                     36 %
     Wells Fargo                 5           14                     36 %
     SBC Communications          6           18                     33 %
     New York Times              5           15                     33 %
     Compuware                   4           12                     33 %
     J.C. Penney                 4           12                     33 %
     Calpine                     3            9                     33 %
     Colgate-Palmolive           3            9                     33 %
     Hershey Foods               3            9                     33 %
     Hewlett-Packard             3            9                     33 %
     Kimberly-Clark              3            9                     33 %
     Gap                         4           13                     31 %
     Principal Financial Group   4           13                     31 %
     Washington Mutual           4           13                     31 %
     CIGNA                       3           10                     30 %
     KeySpan                     3           10                     30 %
     MBIA                        3           10                     30 %
     McKesson                    3           10                     30 %
     Providian Financial         3           10                     30 %
     Ryder System                3           10                     30 %
     Toys R Us                   3           10                     30 %
     United Parcel Service       3           10                     30 %
 
 

SOURCE Spencer Stuart

More by this Source


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

 

PR Newswire Membership

Fill out a PR Newswire membership form or contact us at (888) 776-0942.

Learn about PR Newswire services

Request more information about PR Newswire products and services or call us at (888) 776-0942.