September 2023 Report Summary

Companies continue to diversify board composition by appointing women to the board of public companies.

In September, women comprised 23.2% of new appointments to the boards of public companies. Public companies appointed 78 women to boards and 258 men to their boards. The pressure to increase diversity at the board level remains critical to ensuring the advancement of women moving into board positions. 

While only 17 of the newly appointed women board members (21.79% of new women appointments) chose to self-disclose their race, boards must continue to diversify and the data continues to highlight the value of disclosure. In September, Asian/Pacific Islander and Black/African American women took the lead in board appointments with 9 women each being appointed to public boards, making up 52.94% of all appointments. They are closely followed by 5 Black / African American women (29.41%). Companies such as Chipotle Mexican Grill, Inc., Kimberly-Clark Corporation, and Parker-Hannifin Corporation are leading the way as part of a phenomenal group that have appointed diverse women to their boards. 

Of the 71 women appointed to the boards of public companies, 41, or 52.56%, were first-time board appointments. In September, Healthcare companies led the way in the appointment of women followed by  Financial Services companies, with appointed women filling 24.36% of board seats at Healthcare companies and 14.10% at Financial Services companies. In the Healthcare industry, we see strides being made by women at companies like Regeneron Pharmaceuticals, Inc.