NEW YORK--(BUSINESS WIRE)--CTPartners (AMEX: CTP) (http://www.ctnet.com), a leading global retained executive search firm, today issued “Women on Boards: Review and Outlook,” (http://www.ctnet.com/uploadedFiles/Women On Boards-Review-Outlook_10-2011.pdf) the firm’s first annual report detailing the status of women on Fortune 1000 boards and providing a framework for change.
According to Julie C. Norris, Partner in the CEO and Board Practice at CTPartners and co-author of the report, “We are starting to see changes in the boardroom that mirror the macro changes in the economy, including demand for directors with insights into new customers, technology, distribution channels and global markets. Boards are looking for diverse perspectives, and the next generation of directors has the opportunity to include more women.”
“Women on Boards: Review and Outlook” includes statistics by company, industry, functional background, board leadership positions and other categories. The data was researched by CTPartners and supplemented by interviews with 50 directors, CEOs, CHROs and governance experts. The report includes suggestions to help boards add more women, tips for women interested in serving on boards, and steps for women serving on boards to strengthen their roles.
Marie E. Kelly, co-author of the report and Partner in the CEO and Board Practice at CTPartners, commented, “Our research uncovered pockets of improvement in the participation of women on boards as well as areas of concern. Our goal was to capture the data, as well as the best ideas from our interviews, to offer boards and women executives a path toward greater involvement of women in corporate governance.”
The report reveals that opportunities exist to help boards finally move beyond the good-old-boys’ network. Some positive signs (data specific to Fortune 1000 boards):
- For the 12 months ending June 15, 2011, 83 women across industries joined boards, with an average age of 54;
- More than 1,100 directors are currently over age 70, with nearly 300 boards having at least 2 members over age 70 – potential retirements create opportunities for women;
- A strong supply of talented women is in place, including 78 CFOs, only 25 of which serve on an outside board;
- 133 boards have 3 or more women on their boards.
At the same time, the data show that there is continuing reluctance to add female directors. Some examples (data specific to Fortune 1000):
- Only 14.7 % of board directors are women;
- 140 boards have no women directors;
- 29 consumer companies still have no women directors, despite the fact that women make 75% percent of consumer purchase decisions.
CTPartners CEO Brian Sullivan added, “Accomplished, qualified women executives are available, and we know that boards are made stronger through diversity. Boards are committed these days to refreshing their skills and perspective, and we look forward to greater opportunities for women as a result.”
The full CTPartners Report is available on request or online at “Women on Boards: Review and Outlook,” (http://www.ctnet.com/uploadedFiles/Women On Boards-Review-Outlook_10-2011.pdf.
About CTPartners
CTPartners is a leading performance-driven executive search firm serving clients across the globe. Committed to a philosophy of partnering with its clients, CTPartners offers a proven track record in C-Suite, top executive, and board searches, as well as expertise serving private equity and venture capital firms.
With origins dating back to 1980, CTPartners serves clients with a global organization of more than 400 professionals and employees, offering expertise in board advisory services and executive recruiting services in the financial services, life sciences, industrial, professional services, retail and consumer, and technology, media and telecom industries.
CTPartners’ focus is straightforward: Place the right executive in the chair. Evidence of CTPartners’ ability to get the job done is its 83% placement success rate and average days to placement of 123 days in 2010. CTPartners has a stick rate of 90% for the eighteen month period ending on June 30, 2010.
Methodologies used include our proprietary technology, ClientNet®, a technology tool that permits clients to access password-protected information over the internet from any place, at any time, to check the status of their search engagements, and the 40-day Audit processes, a comprehensive assessment tool that provides formal feedback and insures search milestones are met according to plan.
Headquartered in New York, CTPartners has offices in Bogotá, Boston, Caracas, Chicago, Cleveland, Columbia MD, Dallas, Dubai, Geneva, Hong Kong, Lima, London, Mexico City, Miami, Panama City, Paris, Santiago, São Paulo, Shanghai, Silicon Valley, Singapore, Toronto, and Washington, D.C.