Though we have made some major strides in the business world in the last 15 years women only accounted for 15% of board seats in 2010 and 73% went to men (this number has actually increased since 2004), according to a study by the Alliance for Board Diversity (ABD).
It was found that 37 of the companies in this years’ Fortune 500 list didn’t have women or minorities in director roles last year. The study was based on data from all the companies in the Fortune 100 and from 491 companies in the Fortune 500.
These numbers are staggering especially in the recent light of statistics that the majority of working women are more educated than their male colleagues.
However reasons for this could be the way boards are set up. Many of them don’t have term limits which means people can stay on them FOREVER. That is why there are always a few 80-year-old dudes on boards.
It is also because women just hold less executive positions in general. Women only account for 25.4% of chief executive spots in the U.S., according to the Bureau of Labor Statistics.
Some companies that do have a healthy representation of women and minorities on their boards include Citigroup, International Business Machine Corp. and Procter & Gamble.