50/50 Women on Boards™ Annual Gender Diversity Index™ Report Reveals Setback in Board Diversity

LOS ANGELES, Sept. 30, 2025 /PRNewswire/ -- 50/50 Women on Boards™ (50/50WOB), the leading global non-profit education and advocacy group dedicated to positively impacting corporate governance, announced that as of June 30, 2025, women hold 30.1% of the Russell 3000 Index company board seats. This represents a mere 0.1 percentage point increase from 30% in Q2 2024, the smallest gain in over a decade. Using data provided by its Exclusive Data Partner, Equilar, the 50/50 Women on Boards Gender Diversity Index reveals that the percentage of women joining boards has stalled, and the number of new seats gained compared to previous years has decreased.

Despite this setback, momentum continues in key areas. Companies with the largest market share now have at least 35% women on their boards, indicating that balanced boards contribute to improved business performance. Furthermore, when women hold leadership roles—such as CEO, Chair of the Board, or Nominating Governance Chair — boards near gender equality at 48%, with more than 20% of the seats held by people of color.

Key Findings:

• Board Rankings: 14% of companies have gender-balanced boards (up from 13% in 2024), companies with 3+ women remain stable at 44%, and companies with all-male boards (zero women) remain at 2%.
• Race & Ethnicity: Among the 42% of directors who self-identify their race and ethnicity, women of color hold 7.4% of the seats (down from 7.7% in 2024), while men of color remain at 11.3%.
• Sector: Every sector has at least 26% women directors, with Utilities, Consumer Defensive, Consumer Cyclical, and Real Estate exceeding 30%.
• State: Among the 25 states with at least 20 Russell 3000 companies headquartered in the state, Nevada is the only state with less than 25% women, at 23.3%, a decline from 26.5% in 2024. Twelve states, up from nine in 2024, surpass 30% women on boards, and Minnesota, Washington, California, and Illinois lead with more than 32% women on boards.
• Company Size: Russell 100 companies, which are the largest and most competitive in market share and financial performance, have 35% women on their boards, significantly exceeding the 26% found in the smallest Russell 1000 companies.

"While we've made significant strides in 15 years, the recent decline in women and women of color joining boards shows we have more work to do," said Heather Spilsbury, CEO of 50/50WOB. "This year presents a crucial opportunity to accelerate our progress with renewed focus and bold strategies."

To read the full report, please visit: https://5050wob.com/annual-reports/. To further this movement, please consider donating to advance women to corporate boardrooms worldwide: https://5050wob.com/donate/.

About 50/50 Women on Boards (50/50WOB)
50/50 Women on Boards™ (50/50WOB) is the leading global nonprofit education and advocacy organization driving the movement toward gender balance and diversity on corporate boards. Since 2010, the nonprofit has published its 50/50 Women on Boards Gender Diversity Index™ directory and research reports to track the gender and racial diversity of Russell 3000 company board directors. Educational programs and advocacy efforts produced by 50/50WOB include its annual 50 Women to Watch for Boards program and Global Summit, year-round board training programs for individuals and corporate groups, and the Networking Hub for alumni to connect to experts and corporate directors in support of their board journey. For more information, visit: www.5050wob.com.

SOURCE 50/50 Women on Boards