50/50 Women on Boards Reveals Fourth Quarter 2021 Gender Diversity Index Key Findings, Women Gained Nearly 50% of the Newly Appointed Corporate Board Seats, But Diversity on Russell 3000 Boards is Still Lacking

LOS ANGELES, March 2, 2022 /PRNewswire/ -- 50/50 Women on Boards™ (50/50WOB), a leading non-profit education and advocacy campaign driving the movement toward gender balance and diversity on corporate boards, announced that as of Dec. 31, 2021, women hold 26.7% of the Russell 3000 company board seats. The average year-over-year increase is 2.14%, with the largest year-over-year increase of 3% from 2020 to 2021. Further, 48% of the 598 directors who joined boards in Q4 2021 were women, consistent with Q3 2021, and the highest quarter-over-quarter percentage increase.

"Over the past year, we have seen increases in women on boards, with some sectors and states exceeding 25% women on their boards, but we are still far from gender balance and diversity on boards," said Stephanie Sonnabend, Co-Founder and Chair of 50/50 Women on Boards. "While we have made progress, it is imperative that corporations take necessary actions to ensure we achieve women holding 50% of all corporate board seats with women of color holding at least 20% of all corporate board seats."

Using the data provided by Equilar, other significant key findings include:

• 241 (8%) of Russell 3000 Index companies have gender-balanced boards, up from 173 (6%) in Q4 2020.
• 1,172 (40%) of Russell 3000 Index companies have 3+ women on boards, up from 879 (30%) in Q4 2020.
• 891 (31%) have two women, 529 (18%) have one woman, and 81 (3%) of companies have no women.
• Only 21% have 1 or no women, a significant improvement from 2017 when over 50% of the companies had or no women on their boards.
• 87% of the seats gained by women directors were seats added to a board rather than waiting for a man to retire.
• Based on those who self-identify, of the total directors, only 15% report as people of color, with women of color holding 6% of company board seats and men of color holding 9%. In comparison to total directors, 30% identified as people of color, with 16% women of color and 15% men of color.
• Of the states with more than 20 public companies, 17 states have more than 25% women on boards, up from 4 states in 2020. California and Washington State have more than 30% women on boards.
• Sectors that exceeded the national average of women include utilities (31.1%), consumer defensive (30.4%), consumer cyclical (29.7%), real estate (27.5%), technology (27.2%) communication services (26.7%).

To read the full report, please visit: https://5050wob.com/reports/. 

At the current rate of change, women are not expected to hold 50% of corporate board seats until 2030. To cut the estimated timeline in half, and reach the goal by 2026, the percentage of women needs to increase by 5.8% year-over-year, almost doubling the percentage increase from 2020 to 2021. For women of color to hold at least 20% of corporate board seats by 2030, the percentage of women of color appointed to boards needs to increase by at least 1.79% each year.

"While the recent data is encouraging, and we applaud companies leading the way, it's vital that we reach women earlier in their careers to help them develop a leadership path at the onset of their professional journey," said Betsy Berkhemer-Credaire, CEO of 50/50 Women on Boards. "As part of our mission, to educate and advocate for women, 50/50 Women on Boards believes that corporations invested in women's leadership and board pursuit programs like ours, will help build the next generation of women directors and ensure we reach our goal before 2030."

Launching today, 50/50 Women on Boards will offer new educational programs for women and corporate groups. "Your Path to the Boardroom" is designed to meet women at every stage in their career. The workshops will provide women with the strategic tools and insights to map their leadership and board journey, cultivate meaningful relationships and increase their visibility in pursuit of a board position. Workshops will range in price, starting at $100. Three unique Corporate Workshops will also be offered as companion programs to a corporation's Women's Network or DEI efforts to ignite women leadership and help senior-level talent prepare for board service.

To register for "Your Path to the Boardroom," visit: https://5050wob.com/programs/.

50/50 Women on Boards is also encouraging workshop alumni to foster organic relationships with women at all stages of their careers in the Networking Hub. 50/50 Women on Boards will launch its Networking Hub in March 2022 where women can join for $99 per year and past 50/50 Women on Boards alumni will receive a discount and can participate for $50 the first year.

About 50/50 Women on Boards (50/50WOB)
50/50 Women on Boards™ (50/50WOB), a nonprofit 501(c)3, is a leading education and advocacy campaign driving the movement toward gender balance and diversity on corporate boards. The campaign publishes its 50/50 Women on Boards Gender Diversity Index™ directory and research reports to track the gender composition of corporate boards on the Russell 3000 by board size, state, sector, and rating. Public awareness campaigns and educational programs produced by 50/50WOB include The Global Conversation on Board Diversity™; Get on Board! workshops for board-ready women; and Path to the Boardroom™ workshops for mid-career women aspiring to serve on boards. For more information visit: www.5050wob.com.

SOURCE 50/50 Women on Boards