We’re not sure this qualifies as “droves,” but it is a small step toward what will eventually be gender parity on boards. We hope “eventually” means soon.
As male directors leave boards due to age, retirement or opting not to stand for reelection, they are consistently being replaced by an ever-increasing number of women, and, more recently, people of color. In the past five years, the election and appointment of female board members at companies with market capitalizations of $150 million or more has had a compound annual growth rate of 25%, consistently outpacing the rate of male elections and appointments. That’s according to a recent report published by compensation consulting firm Pay Governance that relied on underlying 8-K data tracked and analyzed by DirectorMoves.Agenda – Droves of Male Board Retirees Replaced by Women