January 2023 Report Summary
As we begin out this year, companies continue to diversify board composition by appointing women to the board of public companies.
In January, women comprised 32.78% of new appointments to the boards of public companies. Public companies appointed 117 women to boards and 240 men to their boards. The pressure to increase diversity from the C-Suite to the board level remains as the year begins.
While only 36 of the newly appointed women board members (30.77% of new women appointments) chose to self-disclose their race, we continue to see diversification and continue to highlight the need to disclose. In January, Asian / Pacific Islander women took the lead in board appointments with 17 women being appointed to public boards, making up 14.53% of all appointments. They are closely followed by 11 Black / African American women (9.40%). The Honest Company, Restaurant Brands International, and GoDaddy. are some of the companies that appointed this phenomenal group of diverse women to their boards.
Of the 117 women appointed to the boards of public companies, 58, or 49.57%, were first time board appointments. In January, healthcare companies led the way in the appointment of women followed by industrials and tech companies; with appointed women filling 22.22% of board seats at healthcare companies, 13.68% at industrials companies, and 12.82% at tech companies. In the healthcare industry, we see strides being made by women at companies like GE Healthcare Technologies.
Equilar and WBC are tracking and analyzing the growth and rotation of board seats on public companies 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. Please join us in celebrating, tracking, analyzing, and promoting women serving on corporate boards.