With more than 600 of the tri-state area’s leaders in attendance, the Women in Leadership 2018 report was released at The Forum of Executive Women’s Annual Leadership Breakfast in Philadelphia.
The report provides an assessment of the gender composition of the boards of directors, senior executives, and top earners at the Philadelphia region’s top 100 revenue-producing public companies. While it documents disparities in gender equity, it also details positive outcomes achieved to advance more women in leadership roles throughout the region.
Year-to-year numbers reflect minimal progress at the board level, and the number and salaries of women in executive ranks remain disappointingly flat.
The Forum of Executive Women has been committed to taking a long-term and in-depth look at what companies in the region are doing to support the advancement of women as leaders.
“Our intention is to educate the public, stimulate thought-provoking discussion, and compel people to take action to increase the number of women in leadership roles throughout the region,” says Margaret A. McCausland, President of The Forum of Executive Women.
This is The Forum’s 18th annual report and the sixth year that they have collaborated with PwC, which serves as The Forum’s “Women Upfront” annual sponsor and conducts the research behind the report findings. The research comprises the top 100 public companies (by 2017 revenue) that are subject to SEC regulations as listed in the Philadelphia Business Journal 2018 rankings (June 15, 2018 print edition).
“This year there are some numbers that give us hope and many others that I hope spur us to more action. It’s important that we look at all of this with a critical eye and talk honestly about it to bring about the kind of change we all know is right – and very much needed,” says Deanna M. Byrne, Managing Partner in PwC’s Philadelphia office and a Forum member.
Highlights of the report include:
Female Representation in the Boardroom:
- From 2016 to 2017, overall board seats held by women grew from 16% to 17%. The percentage of board seat openings going to women grew from 17% to 19%.
- Out of the 100 companies, 18 did not have a woman on their board.
- 12 companies were recognized as Champions of Board Diversity for having 30% or more women on their boards.
Female Representation in C-suites and as Top Earners:
- Executive Teams
- 43 percent of the 100 largest public companies in the region still conduct business with all-male leadership teams – no change from last year’s report.
- Out of 625 total executives, only 15% were women.
- In 2017, only five of the region’s companies had female CEOs.
- Top Earners
- Over the last eight years, the percentage of female top earners improved by only one percentage point and stands at 10 percent in 2017.
- 60 percent of companies reported no female top earners.
See full report here.