March 2021 Report Summary

In March, Women’s History Month, women comprised 39.4% of all public board appointments.

Public companies appointed 148 women to boards and 228 men to their boards.

The women appointed to fill board seats continue to diversify. With 37 women self-identifying as women of color, the percentage of women of color was 25%. Out of the 37 women who self-identified as Women of Color, 20 of those women (54%) self-identified as African American, closely followed by 12 Asian/Pacific Islanders, 3 Hispanic, 1 multiracial and 1 Indigenous.

This trend is critical to ensuring the WBC reaches its 2025 target of women of color comprising 10% of board seats on public companies. The GAP Inc, Walgreens Boots Alliance, and American Express Inc, are some of the companies that appointed diverse women to their boards.

Of the 148 women appointed the boards of public companies, 72 were first time board appointments. Some of these first-time board appointments have been at CISCO systems, Joann Inc, and Microvision Inc. We will continue to watch and monitor this trend to ensure that the number of women occupying board seats across all industries continues to grow and the pipeline strong.

In March, healthcare companies led the way in the appointment of women followed by technology and financial services with 14.2% of women appointed filling board seats at tech companies. In the financial services sector, we see strides being made by women at companies like Apollo Global Management, Inc. and Simmons First National Corp.

The overall trend continues to hold steady near 40% and with about 25% of the women identifying as women of color. Equilar and WBC are tracking and analyzing the growth and rotation of board seats and the expanding candidate pool. We will continue to track not only the women in terms of numbers, diversity and profile; but the companies and industries in which female board members are present and how many of the overall board seats are held by women.

The time is now for women to add value and presence across all companies, boards, and sectors. Please, join us in celebrating, tracking, analyzing, and promoting women on boards of public companies.