Women on Boards

Women: Corporate Quotas?

Toutes les Frances : Femmes – les Quotas dans les Entreprises ?

On October 22, Chris Jaccon, VP Women on Boards of EuropeanPWN-Paris participated in a televised debate on quotas for women on boards called “Femmes: les Quotas dans les Entreprises?” on the French program Toutes les Frances.

We encourage you
to watch this 52 minute recording, where Chris made EuropeanPWN heard on this issue alongside Brigitte Grésy, renowned General Inspector of Social Affairs, and author of a very news-worthy report on gender equality at work.

“Step this way”

by Peninah Thomson describes the challenges women must overcome to continue climbing the ladder to board positions.

New Finnish Corporate Governance Code: Both genders represented on the board

As from January 1 2010 listed companies in Finland need to have at least one woman on the board. If not, they will need to explain the reason why. Read more

Female leadership pays off

Research by the Finnish Business and Policy Forum indicate that a company led by a female CEO is in practice about ten per cent more profitable that a corresponding company led by a male CEO. The share of female board members has a similar positive impact.

Women on Boards: Not Just the Right Thing . . . But the “Bright” Thing

by David A.H. Brown, Debra L. Brown and Vanessa Anastasopoulos
The issue of “women on boards” really comes down to two questions: “Why should we have more women on boards?” and “How can we have more women on boards?” Unfortunately, most of the writing on the subject addresses the “how,” and all too rarely the “why.” This research report is intended to help fill that gap.

Neelie Kroes - EuropeanPWN Board Room Round Tables, September 2008

European leadership in globalization: “The speed of change is accelerating – Are you still at the steering wheel?”

European Commissioner for Competition Neelie Kroes addressed 20 international board women of Europe’s largest companies on the key issues facing Europe’s competitive position in the world. This 2nd edition of the EuropeanPWN Board Room Round Tables was hosted by Egon Zehnder International.

Improve the entrepreneurial spirit

In order for the EU to remain competitive it is imperative we take measures to increase entrepreneurialism. More flexible labor markets and introducing flexible working arrangements while making use of all talent available have become a necessity in global competition. “We need more people in the labor process and we need them longer,” explained Commissioner Neelie Kroes. “We also need to choose and use the potential of women at the highest levels as this leads to better decision-making and better returns to shareholders.”

READ MORE HERE
PRESS RELEASE

Board members address key issues on corporate governance at first EuropeanPWN – IMD Board Room Round Tables (January 2008)

Information gathering, long-term value creation and board composition are the key issues facing board members in the upcoming years. This notion was the consensus opinion expressed by 15 prominent female board members from different industries, different nationalities and from various European countries during the first Boardroom Roundtable discussion in Amsterdam organizedby the European Professional Women’s Network in cooperation with IMD, a leading business school based in Switzerland. More

“Advancing Women Leaders”

report by Catalyst (July 2008) shows that the number of women on the board is a predictor of the number of women in line management functions in a company. Companies with more women board directors are more likely to select leaders from a broader, more inclusive talent pool that values skills and results regardless of gender, ultimately positioning themselves for better financial performance. More [PDF]

EuropeanPWN BoardWomen Monitor 2006

Scandinavia Strengthens its Lead while the rest of Europe stagnates
Women occupy 8.5% of European corporate boardroom seats, or 385 of the 4,535 positions considered, a tiny variation on the 8% found in 2004. The Scandinavian countries, through proactive policies and quotas are surging ahead.
The rest of Europe trails these countries, although the number of companies with at least one woman on the board has increased over the past two years (from 62% to 68%). Companies seem to prefer another element of diversity, that of nationality, which is progressing more quickly: 23% of board directors are not the same nationality as their company, compared to 18% in our 2004 survey.

EPWN Board Monitor 2006: press coverage

Working with Women – FTSE-100 Cross-company Mentoring Programme –

The purpose of the FTSE 100 Cross-Company Mentoring Programme is to increase the pool of eligible senior female candidates for Board positions in major UK corporations and thus to “change the face of UK business”. More

Board composition IS changing: more diversity and less CEO’s….

The recently released Spencer Stuart Board Index 2007 observes significant changes in board composition of the Fortune 500 Boards compared to 2002. It concludes that gender diversity has increased (16% women directors against 12% in 2002), fewer active CEO’s are serving on boards (one-third now against 53% in 2000), more executives from the next level down have been joining boards (21% of new directors compared to 7% in 2002) as well as more first time directors (almost one-third). Boards with at least one woman director went up with 11% from 82 % in 2002 to 91%. Main reasons for these changes are that companies have adopted different approaches to identifying and selecting board candidates. (Nov 2007)
Read more

Gender Matters, McKinsey Report

McKinsey’s recently launched report confirms the findings of the already impressive body of research which shows that companies with women in top management outperform those without. The fact that McKinsey places the topic firmly on the agenda of companies is another sign that the ‘elephant at the table’ has become visible in all its glory. Companies can no longer deny the positive effects of women in the top of their organisations.

A woman’s place in the boardroom

by Peninah Thomson and Jacey Graham
The UK has made substantial progress over the past ten years in bringing more women to the board table, thanks to the combined efforts of academia (and notably Val Singh and Susan Vinnicombe’s work on the Female FTSE 100), government (the Department of Trade and Industry) and women’s networks (City Women’s Network , a London affiliate of EuropeanPWN). But much remains to be done. The authors, who are closely linked with City Women’s Network, describe the business case,
current best practice, including innovative cross-mentoring programmes put in place to groom future board members. Essential reading for corporate boards.

In Brief: Shareholders beware: financial measures excel where women serve

Catalyst’s groundbreaking 2004 study “Connecting corporate performance and gender diversity” in Fortune 500 companies was updated recently. The 2007 study confirmed that it makes business sense to have more women on board; companies with the highest percentage of women board directors outperformed those with the least representation by a staggering 53 percent for return on equity, 42 percent for return on sales, and 66 percent for return on invested capital. Shareholders should become aware of this development and start asking the right question at the annual shareholders meetings! More

The Double-Bind Dilemma for Women in Leadership

Damned or Doomed—Catalyst Study on Gender Stereotyping at Work Uncovers Double-Bind Dilemmas for Women – Study examines how a “men-as-default-leaders” mindset derails women’s advancement to business leadership More

The Business Case for Greater Board Diversity

High heels scale new heights

by Avivah Wittenberg-Cox, founder of EuropeanPWN
Have you noticed the ascension of women in everything? Slowly, if somewhat subversively, women are on the rise. And so are their heels. The link between power and height is something that men long ago understood, their vertical ambitions signposted by the towering skyscrapers that dominate our urban horizons. More

Womenomics – the economic case for empowering women

By Annalisa Gigante
Annalisa Gigante, head of the Women on Boards initiative at EuropeanPWN Gender equality in business boosts economies and birth rates, so why wouldn’t you have the same number of women as men on your board? It’s time to dispel the myths and let the statistics do the talking. More

The impact of diversity and independence on board effectiveness

Speech by Chris Thomas, Leader, Board Consulting Practice Group, Egon Zehnder International, to European Professional Women’s Network in Paris, 10th February 2005.

The Statistics: where we stand today

UK : New look women directors add value to FTSE 100 boards
Women now hold 10.5% of FTSE 100 directorships

France : Women’s presence on CAC40 boards. This study by Action de femme (in French) measures women’s presence on the CAC40 boards. A poor 6.4%, despite the fact that French women have on of the highest rates of workforce participation in the world!

Netherlands : Spencer Stuart 2005 Board Survey

Only 3.6% of board positions are held by women in the 100 top companies analysed in the report.

Initiatives and Best Practice: the way forward

The European Women Lawyers Association seeks to promote more balanced corporate boards
At its AGM on May 20th, 2006, the European Women’s Lawyers Association passed a resolution recommending that the EU initiate a directive on the balanced participation of women and men on the boards of listed companies in Europe. More…

Women on Boards the inside story on Norways 40 % target

Our network in Norway, AIPBW (Association of Profesional and Business Women), recently hosted an event with Hege B. E. Nordstrand, from the Department of Child Welfare and Equality, to discuss the hot topic of women’s representation on the boards of companies listed on Norway’s stock exchange.

UK : Brighter Boards: The Department of Trade and industry’s Women’s Equality Unit is pushing for more board diversity. A recent white paper called Brighter Boards
is one of the best summaries we’ve seen on the issue, including: Top ten tips for companies, Top ten tips for head-hunters, Top ten tips for women, Top ten skills that companies look for, Ten boardroom myths demolished.

Their web site is an excellent source of research, and presents the business case for more women on boards. In particular, the Tyson report gives a clear overview of current board structures and failings, with recommendations for improvements – including greater diversity