PHILADELPHIA--(BUSINESS WIRE)--For the first time, The Forum of Executive Women’s annual report on the status of women in the boardrooms and executive suites of the top 100 public companies in the region includes data from large non-profit colleges, universities and healthcare systems.
The expanded analysis in Voices at the Table, Women on Boards 2014 shows that according to a new report being released today at The Forum of Executive Women’s Annual Leadership Breakfast, women hold a greater proportion of chief executive officer positions and boards seats at non-profits than at for-profit companies, though their representation is still significantly below that of men.
The annual publication, Voices at the Table, Women on Boards 2014, reports on the status of women in the boardrooms and executive suites of the top 100 public companies in the Philadelphia region. And, for the first time, it also includes data from large non-profit colleges, universities and healthcare systems.
Key among the report’s findings – women held 12 percent of board seats and 14 percent of executive positions at Philadelphia’s top 100 publicly held companies last year – a share that was up modestly from the year before. Comparatively, women held 26 percent of board seats in the region’s healthcare systems, and 29 percent of board seats in colleges and universities in the region.
Women on Boards 2014 documents minimal progress in 2013 in bolstering the ranks of corporate women leaders, according to an analysis of 2013 year-end SEC filings by the 100 companies. The added data on leadership composition at 17 of the region’s healthcare systems and 18 colleges and universities are drawn from a database of public Form 990 filings for fiscal year-end 2011. Although the statistics on women leaders in the non-profit sectors are not as current (due to the lag time in filing), they provide a useful baseline for measuring change in the coming years.
Report Findings
For the second year, The Forum collaborated with the Philadelphia office of PwC US to conduct the analysis of the Philadelphia region’s top 100 public companies as defined by the Philadelphia Business Journal. PwC serves as The Forum’s “Women Upfront” annual sponsor as well as conducting the research behind the report findings.
Modest year-over-year progress boosting the number of women leaders has occurred, but the absolute number of women in key leadership roles is still small.
- 35 of the region’s top 100 public companies had no women on their boards
- Only eight companies had three or more female board members
- 44 companies had no women in their top executive ranks
- Only seven companies had a female CEO
‘Top Earners’ statistics are telling:
- Women comprised only 10 percent of top earners at the 100 public companies
- Women comprised 32 percent of top earners at healthcare systems
- Women made up 27 percent of top earners at colleges and universities
In addition to the one-year snapshot, the report includes six-year trend data for the Philadelphia region’s top 100 public companies. Those numbers show that there has been some progress in increasing the proportion of women in top leadership roles, though in absolute numbers women are still a relatively small group.
From 2008 to 2013:
- The proportion of board seats held by women increased 19 percent
- The proportion of executive positions held by women increased 24 percent
- The proportion of top earners who were female increased 25 percent
Full results are available online here.
“Women’s voices are missing at tables where important decisions are made,” said Nila Betof, president of The Forum of Executive Women and Chief Operating Office of The Leader’s Edge/Leaders By Design. “As leaders, it is our responsibility to raise our voices when we see inequity. We hope that this report will encourage organizations to find ways to bring more of our talented, smart, capable women’s voices to the tables in the boardroom and C-suites in our region.”
“While the number of women in executive leadership positions in public companies in the Philadelphia region is on track with the national percentage, we are still falling short in terms of female representation in the boardroom,” said Deanna Byrne, assurance partner in PwC’s Philadelphia office. “We’re heading in the right direction, but the pace is very slow and the numbers remain small. Diversity of insight drives innovative thinking, and an assortment of voices at the table is a key factor in helping broaden perspectives, not only in the public company sector, but in all sectors.”
Women on Boards 2014 features in-depth interviews with five women leaders who not only make important decisions for their organizations but also donate their time to improve our community as well. Profiles include: Denise McGregor Armbrister, senior vice president, Wells Fargo Corporation; Anne Morrissey, president and chief operating officer, AmeriHealth Caritas; Kathleen Owens, PhD, president, Gwynedd Mercy University; Jane Scaccetti, shareholder and chief executive officer, Drucker & Scaccetti; and Sue Schick, chief growth officer, UnitedHealthcare Community & State.
Women on Boards 2014 will be released today at The Forum’s Annual Leadership Breakfast, which features an “armchair conversation” with special guest Mr. John Fry, president of Drexel University, addressing the topic of ‘Leadership in a Time of Transformation.’
For support in identifying talented women or for additional information, contact The Forum at info@forumofexecutivewomen.com.
About The Forum of Executive Women
Founded in 1977, The Forum of Executive Women is the region's premier women's organization with more than 425 members, actively working to promote its mission to leverage the power of executive women in the Greater Philadelphia region to expand the impact and influence of women leaders.
About PwC US
PwC US helps organizations and individuals create the value they're looking for. We're a member of the PwC network of firms, which has firms in 157 countries with more than 195,000 people. We're committed to delivering quality in assurance, tax and advisory services. Find out more and tell us what matters to you by visiting us at www.pwc.com/US.
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Please contact the following sources for comment:
- Nila Betof, President, The Forum of Executive Women, and chief operating officer, The Leader’s Edge/Leaders By Design, nbetof@verizon.net 610-660-6184.
- Sarah Gilhorn, PwC Greater Philadelphia marketing leader, sarah.gilhorn@us.pwc.com 267-330-5144.
