October 2023 Report Summary

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

In October, women comprised 33.1% of new appointments to the boards of public companies. Public companies appointed 101 women to boards and 204 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 27 of the newly appointed women board members (26.7% 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.

Women Joining Boards WBC Report

 In October, Asian/Pacific Islander women took the lead in board appointments with 13 women each being appointed to public boards, making up 48.1% of all appointments. They are closely followed by 10 Black / African American women (37.0%).

Companies such as  Birkenstock Holding plc, Green Dot Corporation, and Starbucks Corporation are leading the way as part of a phenomenal group that have appointed diverse women to their boards. 

Of the 101 women appointed to the boards of public companies, 57, or 56.4%, were first-time board appointments. In October, Financial Services companies led the way in the appointment of women followed by  Healthcare companies, with appointed women filling 18.8% of board seats at Financial Services companies and 16.8% at Healthcare companies. In the Financial Services industry, we see strides being made by women at companies like Green Dot Corporation.

October 2023 Graphic 1 (4)
October 2023 Graphic #2 (2)

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 and analyze not only the numbers, diversity and profile of the women being appointed to boards; but the companies and industries in which female board members are present and how many of the overall board seats are held by women.

October 2023 #5 (2)
Pacira BioSciences, Inc.Alethia Young HealthcareBlack / African American
Westamerica BancorporationAlisa Belew Financial Services
Regions Financial CorporationAlison S. Rand Financial Services
Rush Enterprises, Inc.Amy Boerger Consumer Cyclical
Nortech Systems IncorporatedAmy Fredregill Technology
Mercantile Bank CorporationAmy L. Sparks Financial Services
Trane Technologies plcAna Paula de Jesus Assis Industrials
Birkenstock Holding plcAnne Pitcher Consumer Cyclical
Lake Shore Bancorp, Inc.Ann Segarra Financial Services
Moatable, Inc.Rebecca Polak Technology
Heartland Express, Inc.Brenda M. Lantz Industrials
Flowers Foods, Inc.Brigitte H. King Consumer Defensive
LogicMark, Inc.Carine Schneider Industrials
Bank of Marin BancorpCigdem Gencer Financial ServicesMiddle Eastern / North African
OceanFirst Financial Corp.Dalila Wilson-Scott Financial ServicesBlack / African American
Transcat, Inc.Dawn DePerrior Industrials
Root, Inc.Donna Dorsey Financial ServicesBlack / African American
STRATA Skin Sciences, Inc.Dr. Irit Yaniv M.D., MBA Healthcare
IGM Biosciences, Inc.Dr. Elizabeth H.Z. Thompson Ph.D, Healthcare
Natural Gas Services Group, Inc.Georganne Hodges Energy
EVe Mobility Acquisition CorpRegina Shekerdemian Financial Services
Next.e.GO N.V.Isabelle D. Freidheim Consumer Cyclical
NCR Voyix CorporationJanet Brutschea Haugen Technology
AbbVie Inc.Jennifer L. Davis Healthcare
Otis Worldwide CorporationJill Brannon Industrials
Ingersoll Rand Inc.JoAnna L. Sohovich IndustrialsHispanic / Latino
Flowers Foods, Inc.Joanne D Smith Consumer Defensive
Ingersoll Rand Inc.Julie A. Schertell Industrials
Blue Bird CorporationJulie A. Fream Consumer Cyclical
American Acquisition Opportunity Inc.Julie Griffith Financial Services
Hudson Technologies, Inc.Kathleen L. Houghton Basic Materials
Global Payments Inc.Kirsten Marie Kliphouse Industrials
The Aaron's Company, Inc.Kristine Kay Malkoski Consumer Cyclical
Frontdoor, Inc.Lara Balazs