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.
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.
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.