30% Coalition

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Women on Boards: Asset Managers and Institutional Investors Weigh In

How loud does money talk? That’s the question posed by the asset managers, institutional investors, senior business executives, statewide elected officials, and national women’s organizations that make up the Thirty Percent Coalition. The group aims to encourage companies to ensure their boards are composed of at least 30 percent women by 2015. And they’re doing it by leveraging some serious dough: the investors in the group represent over $1.2 trillion in assets under management. Source

Champions of Change Organize to Promote Female Representation in the U.S. Boardroom

Champions of Change Organize to Promote Female Representation in the U.S. Boardroom

Seven Corporate Leaders form the Initial Group of Champions

 

Fort Washington, PA – March 25, 2014 – A new group of corporate leaders has been formed in the U.S. to promote gender diversity in the corporate boardroom.  The Champions of Change consists of an initial core group of four men and three women with extensive board leadership experience and records of advancing diversity. 

 

The Champions of Change, an initiative created and organized by the Thirty Percent Coalition, will use their collective influence and the personal commitment of each member to act as public advocates for increasing the number of women across public company boards and to encourage other leaders to embrace this mission.  The joining of these leaders in a common effort reflects the essence of the Coalition as a collaborative venture of leading organizations and individuals committed to the goal of board gender diversity. The Champions of Change initial group includes:

 

·        Aida M. Alvarez, nominating and governance committee member of Walmart, and on boards of UnionBanCal Corporation and Union Bank; former head of the U.S. Small Business Administration.

·        Doug Conant, former CEO Campbell Soup; Chairman of Avon and on the board of AmerisourceBergen; currently CEO Conant Leadership.

·        Rosemarie Greco, former CEO CoreStates Bank, former board member Exelon, Sunoco; current board member PECO and Chair of Governance/Nominating committee Pennsylvania Real Estate Investment Trust (PREIT).

·        Robert Ingram, former CEO and Chairman Glaxo Wellcome; current lead director of CREE and Valeant Pharmaceuticals, and a director of Edwards Life Sciences. Formerly on the boards of Elan, Allergan, Lowes, and OSI Pharmaceuticals.

·        William McCracken, former CEO and Chairman of CA Technologies; now on the board of MDU Resources Group; formerly on board of Ikon Office Solutions; currently Chair of the Chairmen’s Forum and on the board of NACD.

·        Pat Mitchell, President and CEO, The Paley Center for Media; Chair of Nominating Committee of AOL; former board member Sun Microsystems and Bank of America.

·        James Turley, former Chairman and CEO Ernst & Young; now on the boards of Citigroup and Emerson Electric Company, former Chair of the board, Catalyst.

 

In a statement made following their initial meeting, the Champions said:

 

“Strong leadership is essential to increasing the number of women on corporate boards.  Though there has been progress in the United States, increased board gender diversity is critical to maintaining the competitiveness of U.S. companies on a global stage.  We believe, based on substantial research and personal experience, that companies that embrace gender diversity are better managed and governed and have better long term growth prospects.  We call on other corporate leaders to join us in championing this important effort.”

 

Charlotte Laurent-Ottomane, Executive Director of the Thirty Percent Coalition said: “We are very gratified that these leaders have stepped forward to become Champions of Change, and the Coalition looks forward to working with them and their peers as the group adds additional members. The commitment of the Champions has the potential to significantly impact the landscape here in the U.S. and achieve real progress in increasing female representation in the corporate boardroom.”

 

About the Thirty Percent Coalition

The Thirty Percent Coalition is a unique and groundbreaking national organization of over 60 members committed to the goal of women holding 30% of board seats across public companies by the end of 2015.  Founded in late 2011, the Coalition includes senior business executives, national women's organizations, institutional investors, corporate governance experts and board members for the first time working together to drive the pace of change. The Coalition's work is on the demand side of board diversity – influencing corporations to strengthen their efforts to increase the number of women on their boards. There is no other organization of this kind in the United States.  www.30percentcoalition.org

 

Contact:

 

Charlotte Laurent-Ottomane

Executive Director

Thirty Percent Coalition

This email address is being protected from spambots. You need JavaScript enabled to view it.

(561) 789 6022

 

 

Coalition contacts 127 Russell 1000 companies

FOR IMMEDIATE RELEASE
Institutional Investors, Leading Women’s Organizations Urge Russell 1000 Companies to Add Women to Their Boards
“Thirty Percent Coalition” Continues Push for Women to Hold 30% of Corporate Board Seats By 2015
Boston, MA – February 5, 2013 - A large number of institutional investors with more than $1.2 trillion in assets under management, along with representatives of some of the nation’s leading women’s organizations, yesterday sent a letter to the 127 companies within the Russell 1000 Index that do not have any women on their boards of directors, urging them to embrace gender diversity by including female representation on their boards.
The Thirty Percent Coalition, a coalition that includes senior business executives, statewide elected officials, national women's organizations, institutional investors including pension funds, labor unions, religious organizations and sustainable investment firms, corporate governance experts, board members and others, which was formed in late 2011 to address the lack of gender diversity in corporate boardrooms, organized the initiative and letter. The Coalition has set a goal of women holding 30% of board seats across public companies by the end of 2015. According to reports by Catalyst, ION and Governance Metrics International, women only hold roughly 12 - 16% of corporate board seats today.
“We must do better,” say the signatories in their letter, which asks companies to work with them to bring the number of women on corporate boards to 30 percent by the end of 2015.
Last June, the Coalition sent a similar letter to 41 companies within the S & P 500 Index that do not have women on their boards. Since that time, members of the coalition have been engaged in dialogue with several of those companies and have also filed shareholder resolutions with some of the companies, asking them to commit to gender diversity on their boards.
The new letter has been sent to the 127 companies within the Russell 1000 – essentially the largest 1,000 companies in the U.S. – that do not have any women on their boards (see attached list). In the letter, the signatories cite studies demonstrating a correlation between greater gender diversity among corporate boards and management, good corporate governance and long-term financial performance.
“As someone who has been involved in a number of boards and dozens of businesses, I know the presence of women and minorities in the board room brings fresh perspectives, new ideas, and more tough questions to the decision making process,” says Pennsylvania Treasurer Rob McCord, a signatory to the letter. “Now, as an institutional investor and fiduciary, I believe it’s in our long-term best interests to bring about this kind of change, which is why I’ve spoken out on the need for more women in the board room and taken steps to promote progress on this front.”
The Thirty Percent Coalition represents the first time that large institutional investors and national women’s groups have joined forces to press companies to improve their governance by adding gender diversity to their boards.
“Women’s groups across the nation have long fought for gender equality, and state pension funds and other institutional investors have long been interested in good corporate governance and long-term investment returns,” says Thirty Percent Coalition Executive Director, Charlotte Laurent-Ottomane. “What’s new today is that substantial research underscores the correlation between gender diversity, good governance and positive long-term corporate performance. We are urging the business community to take this step not just because it’s the right thing to do, but because it’s the smart thing to do.”
The letter references quotas being adopted in numerous countries around the world to increase the number of women on corporate boards but proposes instead that companies in the U.S. voluntarily embrace more ambitious diversity goals because it makes business sense.
“We are not advocating for quotas,” says Joe Keefe, President and CEO of Pax World Mutual Funds and Chair of the Coalition’s Institutional Investor Committee. “We are simply urging these 127 companies, and companies in general, to do better when it comes to gender diversity. We would like to see 30% of corporate board seats held by women by 2015. This is a modest, reasonable goal when women comprise over half of the workforce, represent a majority of college graduates and grad students, own 40% of American businesses and are the breadwinners or co-breadwinners in two thirds of American households.”
Signatories to the letter include several statewide elected officials on behalf of public retirement and pension funds in California, Connecticut, Massachusetts, Maryland, New York, Pennsylvania, Rhode Island and Washington, mutual funds and other asset managers, the AFL-CIO, non-profit foundations, religious institutions and many of the nation’s leading women’s organizations, including the National Council for Research on Women, the National Council of Women’s Organizations, the American Association of University Women and Feminist Majority.
The Thirty Percent Coalition promises not to stop with this letter. “We intend to follow up and engage with each of these 127 companies over the next few years, asking them to join the rest of the Russell 1000 in welcoming women to their boards,” says Anne Sheehan, Director of Corporate Governance at the California State Teachers Retirement System (CalSTRS), one of the signatories to the letter. “Whether it’s in dialogue with management, through shareholder resolutions, or related strategies, we intend to press for change. Our goal is to continue engaging companies until women hold at least 30% of corporate board seats across the United States.”
###
About the Thirty Percent Coalition
The Thirty Percent Coalition is a group of industry leaders, including senior business executives, statewide elected officials, national women's organizations, institutional investors, corporate governance experts and board members who believe in the power of collaborative effort to achieve gender diversity in public company boardrooms, and in the necessity of attaining at least 30% multicultural female representation across public companies by the end of 2015. For more information visit www.30percentcoalition.org
Contacts:
Charlotte Laurent-Ottomane
Thirty Percent Coalition
This email address is being protected from spambots. You need JavaScript enabled to view it.
(561) 395 4581
Timothy Smith
Senior Vice President
Director of ESG Shareowner Engagement
Walden Asset Management, a division of Boston Trust & Investment Management
33rd floor, One Beacon St.
Boston, MA. 02108
617-726-7155
This email address is being protected from spambots. You need JavaScript enabled to view it.
Steven Grossman Treasurer and Receiver General Chairman of the Pension Reserves Investment Management (PRIM) Board Commonwealth of Massachusetts (617) 620-9980
Rob McCord
Pennsylvania Treasurer
(717) 787-2465
Justin Ordman
Solomon McCown
This email address is being protected from spambots. You need JavaScript enabled to view it.
(617) 933-5281
The Russell 1000 Index measures the performance of the 1,000 largest companies in the Russell 3000 Index. Investors cannot invest directly in any index.
The S&P 500 Index is an unmanaged index of large capitalization common stocks. Investors cannot invest directly in any index.

Diversified Search Announces Corporate Board Advisory Group

 

Diversified Search Announces Corporate Board Advisory Group

PHILADELPHIA--(BUSINESS WIRE)--Diversified Search (Diversified), among the top ten US executive search firms and the largest US woman-founded and -owned firm, has announced the creation of a Corporate Board of Directors Advisory Group. The Advisory Group will work with Diversified's established Board Practice area and explore the complex issues confronting Boards today, particularly in the area of diversity. Diversified is recognized for delivering high quality corporate Board and senior-level executive searches.

“We are committed to helping clients open up new possibilities by building effective and diverse Boards. The experience, knowledge and skill of the Advisory Group members will undoubtedly be of great assistance in expanding that mission.”

According to Chairman, Founder and CEO Judith M. von Seldeneck, "Diversified has developed a uniquely successful Board search process which we believe will be broadened through dialogue with the distinguished individuals on our newly appointed Corporate Board of Directors Advisory Group." J. Veronica Biggins, a Diversified Managing Director and Head of the Board Practice who serves on two Fortune 500 Boards currently, added, "We are committed to helping clients open up new possibilities by building effective and diverse Boards. The experience, knowledge and skill of the Advisory Group members will undoubtedly be of great assistance in expanding that mission."

Members of the Diversified Advisory Group are:

  • Rosalind G. Brewer, President and CEO of Sam’s Club, a division of Wal-Mart Stores, Inc. with more than 600 locations nationwide. She currently serves on the Board of Directors for Lockheed Martin Corporation and is Chair of the Board of Trustees for her alma mater, Spelman College.
  • Gilbert F. Casellas, non-executive Chairman of OMNITRU, a Washington, DC-based management consulting and investment firm. He is a member of the Board of Directors of Prudential Financial, Inc. and a Trustee of the University of Pennsylvania, where he Chairs its Diversity Committee. He also serves on the Diversity Advisory Board of Toyota Motor North America, on the Joint Diversity Advisory Council of Comcast Corporation where he Chairs the National Hispanic Advisory Council, and on the Board of the Congressional Hispanic Caucus Institute.
  • Calvin Darden, Sr., former (retired) Senior Vice President of Operations at UPS, the largest express and package carrier in the world. He serves on the Boards of Directors for Target Corporation, Coca-Cola Enterprises, and Cardinal Health, as well as on the Board of Trustees of the Atlanta Police Foundation.
  • Jim Lawrence, Chairman of Rothschild North America, serves on the Board of Directors of International Consolidated Airlines Group, S.A. where he is on the Audit & Compliance Committee and Avnet, Inc. where he is a member of the Compensation and Finance Committees. He is also a member of the Board of Overseers of the Carlson School of the University of Minnesota.
  • The Honorable Paula Stern, Founder of The Stern Group, Inc., serving national and multi-national companies and organizations on business, policy and strategic issues. Dr. Stern serves on the Boards of Directors of Avon Products, Inc. and RAC, Inc., and the International Advisory Board of Lafarge. A member of the State Department's Advisory Committee on International Economic Policy, Dr. Stern is on the Executive Committee of the Atlantic Council, as well as the Boards of the Committee for Economic Development, and the Columbia University School of Social Work.

ABOUT DIVERSIFIED SEARCH...

Headquartered in Philadelphia, Diversified Search also has U.S. offices in Atlanta, Chicago, Los Angeles, Miami, New York, San Francisco and Washington, D.C., and worldwide in Europe, Asia-Pacific, Middle East and the Americas. Diversified is the exclusive U.S. partner of AltoPartners, the international alliance of independent search firms with offices in 29 countries. The firm focuses in the areas of Life Sciences, Healthcare and Human Services, Consumer and Industrial, Education, Not-For-Profit, Arts and Culture, Financial and Professional Services, Media and Entertainment, Sports, Private Equity, Retail, and Technology. Functional areas of emphasis include Board of Directors, Chief Financial Officers, Diversity, Development and Philanthropy, Human Resources, Information Technology, and Procurement and Supply Chain.

For more information, go to http://www.diversifiedsearch.com

Contacts

Diversified Search
Stephen S. Morreale,
  215-656-3592 Source

 

Institutional Investors file Shareholder Resolutions

FOR IMMEDIATE RELEASE

 Institutional Investors file Shareholder Resolutions Encouraging Diversity in Company Charter Language and in the Corporate Boardroom

 Thirty Percent Coalition Continues Shareholder Advocacy Initiatives

 Boston, MA – February 28, 2013 - Institutional Investors continue to advocate for greater diversity in the corporate boardroom in 2013 and have filed shareholders’ resolutions with 20 companies with no women on their boards for a vote at their annual meetings.  The investors filing these resolutions are urging these companies to adopt charter language supporting board diversity and institute a practice of including women and minority candidates on their boards.

 According to reports by Catalyst, ION and Governance Metrics International, women only hold roughly 12 - 16% of corporate board seats today, a statistic that has been static over the last several years.

 The Thirty Percent Coalition Institutional Investor Committee, co-chaired by Janice Hester-Amey, Portfolio Manager of the California State Teachers Retirement System “CalSTRS”, and Timothy Smith, Senior Vice President at the Boston based investment firm Walden Asset Management, is leading this initiative.

“The shareholder resolutions are a follow up to the letters written to the 168 companies during the past several months signed by a wide range of investors and women’s organizations.  It makes a powerful statement when investors and women’s organizations raise this issue with leading U.S. companies lacking diversity at the Board level and call for action.  The significance of this initiative is magnified when investors follow up with shareholder resolutions for votes at stockholder meetings.  This demonstrates how seriously investors take board diversity as part of good governance,” stated Hester-Amey and Smith.

Calvert Investments is historically one of the leading filers of the resolution. “Not only do women and minority directors help companies reach broader markets, but they also bring independent thought and perspectives to the table which may not exist in a homogeneous board,” said Christine DeGroot, an analyst at Calvert Investments. “By incorporating gender and ethnic diversity into their formal director selection criteria, companies demonstrate that they recognize the value of corporate diversity, and assure shareholders that it will remain a priority regardless of changes in leadership.”

Another sponsor, Trillium Asset Management, filed board diversity proposals at four companies identified as lagging sector peers with positive results. “We are pleased to be approaching successful withdrawals with all these companies”, said Susan Baker Vice President of Shareholder Advocacy & Corporate Engagement.  All four companies have agreed to define diversity inclusive of gender and race and make diversity an intentional part of board nominee search criteria through revisions to corporate governance documents.  At least one company is acting on its revisions and taking constructive steps to broaden its nominee search beyond traditional circles.

One company's amendment reads as follows: “The board believes that a diverse membership... is an important attribute of a well- functioning board that will enhance the quality of the Board's deliberations and decisions. As a result, the Board will seek diversity of background, experience, gender, race and skills among its members.”

Beginning in June of 2012 and continuing into 2013, investors and women’s organizations working with the Coalition sent letters to those companies in the S&P 500 and the Russell 1000 that do not have women on their boards.  This letter was signed by institutional investors representing over $1.2 trillion in assets under management, along with women’s groups across the U.S. 

Signatories to the letter included the Comptrollers of New York State, New York City, the Treasurers of the States of Connecticut, Maryland, Massachusetts, Pennsylvania, Washington State and California, as well as representatives of CalSTRS, CalPERS and AFL-CIO along with various foundations, religious investors and mutual funds and investment managers committed to sustainable investing. The letter cited studies demonstrating a correlation between greater gender diversity among corporate boards and management, good corporate governance and long-term financial performance. Members of the Coalition have been engaged in collaborative dialogue with a number of those companies.

“While 30% female representation across public company boards is our objective, the Coalition is not advocating for quotas,” says Charlotte Laurent-Ottomane, Executive Director of the Thirty Percent Coalition.  “This is a modest, reasonable goal when women comprise over half of the workforce, a majority of college graduates and grad students, own 40% of American businesses and are the breadwinners or co-breadwinners in two thirds of American households.” 

###

 About the Thirty Percent Coalition

The Thirty Percent Coalition includes major corporations, senior business executives, statewide elected officials, national women's organizations, and institutional investors including pension funds, labor unions, religious organizations and sustainable investment firms.  The Coalition was formed in late 2011 to address the lack of gender diversity in corporate boardrooms and has increased its membership by more than 70% since its inception.  The Coalition has set a goal of women holding 30% of board seats across public companies by the end of 2015.  www.30percentcoalition.org

Contacts:

Charlotte Laurent-Ottomane
Thirty Percent Coalition
This email address is being protected from spambots. You need JavaScript enabled to view it.
(561) 395 4581

Timothy Smith
Senior Vice President
Director of ESG Shareowner Engagement
Walden Asset Management, a division of Boston Trust & Investment Management 
One Beacon St.
33rd floor
Boston, MA. 02108
617-726-7155
This email address is being protected from spambots. You need JavaScript enabled to view it.

  COMPANIES RECEIVING THE RESOLUTION TO DATE

Company

 

Note: Withdrawals are based on agreements between the company and resolution sponsor

Urban Outfitters, Inc.

 

 

Linear Technology Corporation

 

 

Teradyne, Inc.

 

Withdrawn

Leucadia National Corporation

 

 

Republic Services, Inc.

 

Withdrawn

Stericycle, Inc.

 

Withdrawn

Hospitality Properties Trust

 

Withdrawn

MetroPCS Communications, Inc.

 

 

QEP Resources

 

Withdrawn

Superior Energy

 

Withdrawn

Hartford Financial

 

Withdrawn

Zimmer Holdings

 

Withdrawn

Lowe's Companies, Inc.

 

Withdrawn

Rackspace Hosting Inc

 

 

MEMC Electronic Materials, Inc.

 

 

B/E Aerospace Inc

 

 

IPG Photonics Corporation

 

 

ResMed Inc.

 

 

Amphenol Corporation

 

 

Equinix

 

 

Filers of these resolutions include CalSTRS, New York State Common Retirement Fund, Connecticut Retirement Plans and Trust Funds, Mercy Investment Services, Calvert Investments, Trillium Asset Management, Pax World Mutual Funds, UAW Retiree Medical Benefits Trust, United Methodist Foundation and Portico Benefit Services of the Evangelical Lutheran Church in America.

Institutional Investors note Progress as Eight Companies appoint Women to their Boards

Institutional Investors note Progress as Eight Companies appoint Women to their Boards

Investors Working with Thirty Percent Coalition Continue Shareholder Advocacy Initiatives on Board Diversity

Boston, MA – September 18, 2013 – While commending the appointment of women to the boards of directors at eight companies, QEP Resources, Inc., Noble Energy, Inc., Quanta Services Inc., Riverbed Technology, Inc., Crane Co., LPL Financial Holdings, Inc. American Financial Group, Inc. and NetApp, Inc., investors working with the Thirty Percent Coalition continue to pursue companies in the S&P 500 and Russell 1000 with no women on their boards of directors. 

Beginning in June 2012 and continuing into 2013, 168 companies received letters urging them to consider gender diversity in the boardroom as a priority.  The letters, signed by institutional investors representing over $1.2 trillion in assets under management, along with women’s groups across the U.S., cited studies demonstrating a correlation between greater gender diversity among corporate boards and management, good corporate governance and long-term financial performance. The effort has stimulated dialogues with nearly 40 companies about their board diversity policies, and members of the Thirty Percent Coalition continue to actively communicate with a number of these companies. 

The Thirty Percent Coalition Institutional Investor Committee, co-chaired by Janice Hester-Amey, Portfolio Manager of the California State Teachers Retirement System “CalSTRS”, and Timothy Smith, Senior Vice President at the Boston-based investment firm Walden Asset Management, is leading this initiative. “We must do better,” say the signatories in their letter, which asks companies to work with them to bring the number of women on corporate boards from where it is today - with women holding approximately 15 percent of board seats - to a point where women will hold 30 percent of board seats by the end of 2015.  Signatories to the letter included the Comptrollers of New York State, New York City, the Treasurers of the States of Connecticut, Maryland, Massachusetts, Pennsylvania, Washington State and California, as well as representatives of CalSTRS, CalPERS and AFL-CIO along with various foundations, religious investors and mutual funds and investment managers including Calvert Asset Management, Mercy Investment Services, Pax World Management LLC, Trillium Asset Management, and Walden Asset Management.  

During the 2013 proxy season, shareholder resolutions on board diversity were filed with 25 companies. Of the 25 shareholder resolutions filed, 18 have been withdrawn based upon mutual agreements, an important mark of progress in the work on board diversity. Three board diversity shareholder resolutions went to a vote in 2013: proposals at CF Industries, Urban Outfitters, Inc. and Freeport-McMoRan Copper & Gold Inc. received support of 50.7 percent, 27.5 percent and 28.9 percent respectively. The impressive vote at CF Industries marks the first time a board diversity resolution has received majority support from shareholders.

“While progress is painfully slow, we do consider the positive responses of a number of companies an important step in the right direction,” stated Smith.  “While 30 percent female representation across public company boards is our objective, the Coalition is not advocating for quotas.  However, we do think it is a reasonable goal, particularly when there is such a compelling business and financial case for gender and racial diversity on boards,” Smith continued.

 “Investors are actively ensuring their voices are heard in boardrooms with companies lacking diversity. Using both private persuasion and public pressure, shareowners are calling on Board Nominating Committees to publicly declare their commitment to seek and build a diverse Board. The 2013-14 proxy season will reflect the growing belief among company owners that their long term interests as investors are best served when boards are accountable and diverse,” Hester-Amey said.

The Thirty Percent Coalition is continuing follow-up activities with companies that have yet to provide a response to the letter. “We are convinced that elevating the topic of board diversity with company management and increasing the percentage of women on boards is vital to improving the performance of companies in which we invest,” said Pax World President and Chief Executive Officer Joe Keefe.

About the Thirty Percent Coalition

The Thirty Percent Coalition includes major corporations, senior business executives, statewide elected officials, national women's organizations, and institutional investors including pension funds, labor unions, religious organizations and sustainable investment firms.  The Coalition was formed in late 2011 to address the lack of gender diversity in corporate boardrooms and has increased its membership by more than 70% since its inception.  The Coalition has set a goal of women holding 30% of board seats across public companies by the end of 2015.  www.30percentcoalition.org

Contacts:

Charlotte Laurent-Ottomane

Thirty Percent Coalition

This email address is being protected from spambots. You need JavaScript enabled to view it.

(561) 395 4581

Timothy Smith

Senior Vice President

Director of ESG Shareowner Engagement

Walden Asset Management, a division of Boston Trust & Investment Management  

One Beacon St. 33rd floor

Boston, MA. 02108

617-726-7155

This email address is being protected from spambots. You need JavaScript enabled to view it.

 

 

New Member Announcement

The Thirty Percent Coalition Continues to Grow

Summit planned for beginning of 2013

Ft. Washington, PA – December 19, 2012 – The Thirty Percent Coalition, a group of industry leaders working to secure a minimum of 30 percent women across US public company boards of directors by the end of 2015, announced today that an additional 15 new members have joined the Coalition, bringing the total to 55 member organizations and individuals at the end of December.  Members of the Thirty Percent Coalition include corporate leaders, institutional investors, national women's organizations, corporate governance experts and board members.  

 

The Thirty Percent Coalition is planning its second annual Summit on February 4th in New York.  Once again members of the Coalition will come together for a closed door working session to refine current strategies and to develop new ones for 2013 and beyond to make change happen in the corporate boardroom.

 

“The power of the Thirty Percent Coalition comes from this growing group of supporters of gender diversity in the boardroom that speaks with one voice, yet represents multiple initiatives and processes to achieve our goal.  Each new member finds both support for their own activities and strengthens the impact of the Coalition as we all work toward change,” and said Charlotte Laurent-Ottomane, Executive Director for the Thirty Percent Coalition.

 New members of the Thirty Percent Coalition include:

 Corporate Partners

 Sodexo- Sodexo, Inc. is a world leader in Quality of Daily Life Solutions in the U.S., Canada, and Mexico, serving 10 million consumers in 6,000 locations every day. Its company motto and dedication to excellent service, corporate citizenship, and fighting hunger all come from one goal - to make every day a better day.  Sodexo will be represented by Rohini Anand, Senior Vice President and Global Chief Diversity Officer.

 State Treasurers

Denise Nappier, Treasurer of Connecticut

Nancy Kopp, Treasurer of Maryland

Steve Grossman, Treasurer of Massachusetts

John C. Liu, Comptroller of New York City

Rob McCord, Treasurer of Pennsylvania

Gina Raimondo, Treasurer of Rhode Island

Jim McIntire, Treasurer of Washington

 Professional Services Firms

 Deloitte - Deloitte is the second largest professional services network in the world by revenue and has 193,000 employees in more than 150 countries providing audit, tax, consulting, enterprise risk and financial advisory services.  Deloitte will be represented by Dan Konigsburg, Managing Director, Deloitte Global Center for Corporate Governance.

Ernst & Young - Ernst & Young is one of the largest professional service firms in the world.  It is a global organization of member firms in more than 140 countries, headquartered in London, England.  Ernst & Young will be represented by Karen Twaronite, Americas Inclusiveness Officer.

Institutional Investors

 AFL-CIO - The American Federation of Labor and Congress of Industrial Organizations (AFL–CIO) is a national trade union center, the largest federation of unions in the United States, made up of fifty-six national and international unions, together representing more than 11 million workers. The AFL-CIO will be represented by Brandon Rees, Office of Investment.

Catholic Health Partners - Catholic Health Partners (CHP) is the largest health system in Ohio and the fourth largest employer in Ohio, and CHP is also one of the largest nonprofit health systems in the United States. With $5.4 billion in assets, CHP employs more than 32,000 associates in more than 100 organizations –- including 24 hospitals –- that meet the healthcare needs of people in Ohio, Kentucky and contiguous states.  Catholic Health Partners will be represented by Susan Makos, Socially Responsible Investment.

Trillium Asset Management - Trillium Asset Management LLC is the oldest independent investment advisor devoted exclusively to sustainable and responsible investing (SRI). With over $1 billion in assets under management, Trillium integrates Environmental, Social, and Governance (ESG) factors into the investment process as a way to identify the companies best positioned to deliver strong long-term performance.  Trillium Asset management will be represented by Susan Baker, Senior, shareholder Advocacy & Corporate Engagement.

               Women’s Organizations

               Forté Foundation - Forté Foundation is a non-profit consortium of major corporations and top business schools working together to launch women into fulfilling, significant careers through access to business education, opportunities, and a community of successful women.  Forté Foundation will be represented by Elissa Ellis-Sangster, Executive Director.

               Women Presidents’ Organization (WPO) - The WPO is a non-profit membership organization for women presidents of multimillion-dollar companies. Members of the WPO take part in professionally-facilitated peer advisory groups in order to bring the 'genius out of the group' and accelerate the growth of their businesses.  Women Presidents’ Organization will be represented by Marsha Firestone, President and Founder.

 About the Thirty Percent Coalition

The Thirty Percent Coalition is a group of industry leaders, including senior business executives, statewide elected officials, national women's organizations, institutional investors, corporate governance experts and board members who believe in the power of collaborative effort to achieve gender diversity in public company boardrooms, and in the necessity of attaining at least 30% female representation across public companies by the end of 2015.  For more information visit www.30percentcoalition.org  or contact Charlotte Laurent-Ottomane, Tel: (561) 395 4581  This email address is being protected from spambots. You need JavaScript enabled to view it.   source

 

More Women Are Primed to Land CEO Roles

Companies are grooming more women for the corner office.

With a growing pool of highly qualified women and intensified investor pressure on boards to diversify corporate management teams, companies "are hiring more high-potential women who could be CEO," says Judith von Seldeneck, head of Diversified Search, a Philadelphia executive-recruitment firm.

The ranks of female chief executives remain thin, with women in the top spot at just 35 Fortune 1000 companies. But the pipeline is promising, says Maggie Wilderotter, CEO of Frontier Communications Corp., FTR -1.49%adding that she has noticed a number of "women in waiting" at Xerox Corp.XRX -1.63% and Procter & Gamble Co.,PG +0.56% where she is a board member.

She adds that she wouldn't be surprised if the number of major-company female CEOs doubled by 2017. At her own employer, a diversified telecom firm, half of Ms. Wilderotter's six direct reports are women.

"If you want a CEO role, you have to prepare for it with a vengeance," says Denise Morrison, chief of Campbell SoupCo. CPB +0.03% and Ms. Wilderotter's sister.

Ms. Morrison says she cultivated ties with leaders of other food makers by attending food-industry events in her off hours. Joining a corporate board outside their industry also helps prepare executive women for CEO spots, she adds, as directorships can show rising talent how chief executives get things done.

The next wave of women who will command major U.S. corporations likely are senior managers today. "Some phenomenally well-qualified women" hold top operational jobs, says Ellen Kullman, CEO of DuPont Co. DD -0.71%

Nearly 73% of Fortune 500 companies now have at least one female executive officer, though women comprise just 14% of executive officers, according to Catalyst, a New York research group.

In good news for the pipeline, a study conducted by McKinsey & Co. for The Wall Street Journal, to be released Monday, found that 24% of senior vice presidents at 58 big companies are now women.

A lack of profit-and-loss experience may stall some women's progress. Four ofDouglas Conant's 10 direct reports were women during most of his tenure as CEO at Campbell, but Ms. Morrison, his successor, was the only such lieutenant with P&L responsibilities.

The Journal has compiled a list of 10 female executives whose operational expertise and track record make them likely picks to lead a Fortune 1000 company within five years.

The lineup was drawn from an informal Wall Street Journal poll of 15 U.S. search firms, executive coaches and women's organizations. Human Capital News, a newswire owned by market-research firm HSZ Media, also surveyed 75 human-resources executives for the Journal.

The 10 top choices received support from at least two nominating groups. One popular pick—Johnson & Johnson JNJ +0.09% executive Sherilyn McCoy—isn't included because she already has a CEO perch, taking the top job at Avon Products Inc.AVP -1.10% this month. Several others have already been wooed to be chief executives elsewhere, says Clarke Murphy, CEO of recruiters Russell Reynolds Associates Inc.

Another frequent mention who isn't on this list is Facebook Inc. executive Sheryl Sandberg, because she doesn't work for a Fortune 1000 company—yet.

Of the 10, seven already have outside directorships. And of the nine in the group who have children, many have husbands who abandoned the fast track to support their wives' careers. Source

SAVE THE DATE: 3rd SAIS Global Conference On Women In The Boardroom

The SAIS Center for Transatlantic Relations announced that it will  host the Third Global Conference on Women in the Boardroom in Washington, DC on Thursday, September 20, 2012. The Conference  will bring together officials and experts from around the world to focus on initiatives underway in many countries to achieve gender balance on corporate boards.  We will talk with the CEOs and board chairs of companies that have championed gender diversity, and hear from international coalitions of CEOs and board chairs that are working to accelerate progress. Our day-long forum will also feature stakeholders – institutional investors, executive search firms, and corporate governance experts — who are using their financial clout, advisory roles, and regulatory oversight to facilitate change.  Finally, we will update research on the impact of gender diversity in the boardroom and corporate leadership.Source

"Thirty years ago, we would never have thought that there would be so few women in the boardrooms."
~ Chairwoman of the board of a holding of an international company