The Boston Club hosted its annual corporate salute to women directors and executive officers of Massachusetts public companies. Sharon Allen, chairman of Deloitte, spoke to the group, commending efforts to promote diversity in the boardroom and urged other companies to follow suit. The Boston Club referred to its Census which surveys the 100 largest public companies headquartered in Massachusetts. Data for the 2009 census was compiled from the companies’ filings with the Securities and Exchange Commission, including proxy statements, annual reports, and current reports.
The Boston Club, an organization of professional women, found that 60 women have top-level positions in the 100 largest public companies in Massachusetts, a decline of about 27 percent from a high of 82 in 2007. This is the second year in a row the numbers of female executives have declined in the state. Women now make up only 8.6 percent of all executive officers.
The number of companies with no women executives has also risen in the past two years, from 47 in 2007 to 56–a record high since the Boston Club started its annual census in 2003.
Companies which reported no women directors and no women executive officers:
Altra Holdings
American Dental Partners
Atlantic Tele-Network
Beacon Roofing Supply
The Boston Beer Company
Brooks Automation
Cognex
Dynamics Research
Global Partners
Hospitality Properties Trust
HRPT Properties Trust
iBasis
IPC Photonics
The L.S. Starrett Co.
Mercury Computer Systems
National Dentex
Netscot Systems
Network Engines
Parametric Technology
Pegasystems
Phase Forward
Progress Software
Safety Insurance Group
Senior Housing Properties Trust
Skyworks Solutions
Sonus Networks
Steinway Musical Instruments
Varian Semiconductor Equipment
Vicor
Watts Water Technologies
Some key findings included:
- The percentage of women holding board positions in the 100 largest public companies in Massachusetts has remained static in recent years. From 2007 to 2009, this percentage has hovered between 11 and 11.5 percent, while the total number of seats filled by women directors has ranged between 92 and 96.
- Thirty-eight percent of the Census companies continue to have no women on their boards.
- Three of the Census companies with no women on their boards added additional male directors this year.
- The number and the percentage of women and executive officers in the 100 largest Massachusetts public companies are at their lowest points since the Census began in 2003. In 2009, only 8.6 percent of all executive officers in these companies are women.
- In 2009, the number of companies with no women executive officers reached a record high of 56 percent since the Census began in 2003. This is an increase from 47 companies just two years ago.
- The number of companies with two or more women executive officers fell from 19 to 12 between 2007 and 2009.
- Only 23 companies in the 2009 Census have at least one woman among their most highly compensated executives, setting another record low.
- The percentage of executive officers who are women of color fell from 0.7 percent to 0.3 percent in the part year.
- Thirty of the 100 largest Massachusetts public companies have no women in either their boardroom or their executive suite, a significant increase from 23 companies two years ago.