Best Practices

The 30% Coalition Sets Goal of 30% Women on Every Board by End of 2015

• Twenty-seven industry thought leaders, including senior executives of major U.S. companies, founders of powerful women’s organizations, institutional investors, corporate governance experts and board members, gathered for a high-level summit in late 2011 to address the lack of gender diversity in corporate boardrooms. Prompted by what participants called “glacial progress” on increasing the number of women on U.S. corporate boards – a number which has essentially remained stagnant over the past five years – the leaders formed The 30% Coalition.  The Coalition launched a “Critical Mass Campaign” targeted at CEOs, institutional investors and other stakeholders to secure a minimum of 30 percent multicultural women on every US-based publically listed company board of directors by the end of 2015. Read more.

Women Make Headway on Georgia Boards

• Former Secretary of State Madeline Albright famously said, “There’s a special place in hell for women who do not help other women,” in which case she would have enjoyed the Annual Study and Awards Dinner of the Board of Directors Network (BDN), held Oct. 20 at the Renaissance Atlanta Midtown Hotel. The women honored that night, and many others in the room, all have made promoting women part of their personal mission. And this year, there was plenty to cheer about. For the first time, a majority of Georgia’s 136 public companies has a woman seated on the board. Equally exciting was the news that all Fortune 500 companies in Georgia also have at least one woman on their board. Read more.

Board Member Jilaine Hummel Bauer Outlines How Women Can be Stronger Board Candidates

• “One of the five focal points at the 2011 National Association of Corporate Directors (NACD) Board Leadership Conference was board recruitment. And while the good news reported out at one session was that recruitment has moved “beyond the golf club,” and enhancing board diversity was discussed at many sessions, the fact remains that board composition still has to suit a company’s business. Yet, boards that are “in the know” realize that “skills get old and skills get stale.” Analyzing board composition based on future goals and strategic needs of a company is essential. The following are some steps that women can take to make them more informed and stronger board candidates…” Read more.

Video Series: Intuit “Cracks the Code” on Diversity

• Shellye Archambeau, CEO of MetricStream and Watermark board member, discusses how Intuit has “cracked the code” on incorporating women into their leadership ranks. Bill Campbell, Chairman of Intuit, shares his perspective on how companies looking to attract the best talent need to be strategic and intentional when recruiting women in the workforce. Nora Denzel, SVP of Big Data, Social Design and Marketing, gives insight on Intuit’s efforts to include more women, and her personal experience joining the Intuit team.

Pax World Says No to All Male Boards with New Campaign

• Pax World Management LLC, investment adviser to Pax World Funds (Pax World) has launched a campaign to promote greater gender diversity on corporate boards by urging investors to withhold support from corporate proxy slates that do not include women directors. Pax World is urging other institutional investors, investment advisors and individuals to adopt proxy voting guidelines – like those followed by Pax World and other asset managers in the Sustainable Investing arena – that oppose all slates of director nominees that do not include women.

ION Member Watermark Launches Innovative Board Access Program

• According to Watermark CEO Wendy Beecham, “For five years, UC Davis’ annual census revealed a low number of women in the C-suite and on boards of California’s top 400 public companies. That motivated us to empower experienced women leaders to move the needle themselves, rather than waiting for the phone to ring.” The resulting Watermark Institute Board Access™ Program supports exceptional women leaders seeking roles on public or private boards with the intent of progressing diversity and enhancing board effectiveness. This program includes two separate tracks with a robust array of services and resources: a Development Track for high-potential leaders and a Qualified Track for board-ready candidates.

ION Member Organization Central Exchange Supports Win/Win Campaign

• Central Exchange launched a Win/Win Campaign, which strives for the goal that by 2015, women will hold 20 percent of the top executive and board positions in the area’s public companies. With the support of its coalition partners, Win/Win will provide a range of educational forums, services and activities to help educate, change perceptions and create a sense of purpose in the business community. The campaign promotes a growing body of global research demonstrating a strong and positive correlation between a significant presence of women in leadership positions and corporate profitability.

ION Member Organization CABLE Offers Summary of “Women in Corporate Leadership” Report

• CABLE prepared an attractive, four-page summary of their most recent report that can be printed and handed out to the press and distributed at meetings such as their Board Walk of Fame event (March 2, 2011) and The Tennessee Economic Summit, which attracts hundreds of women in political and corporate leadership.

Pax World President/CEO and ION Advisory Council Member Joe Keefe Publishes Paper on “Gender Equality as an Investment Concept”

• ION Partner Pax World released “Gender Equality as an Investment Concept” to argue that investors can promote gender equality and women’s empowerment while potentially reaping financial returns. Joe Keefe cites evidence which supports the idea the businesses embracing gender diversity may be better positioned for long-term financial success.

“The status and role of women is a very good clue to a company’s growth potential,” said Keefe. “When women are at the table, the discussion is richer, the decision‐making process is better and the organization is stronger. Integrating a gender lens into investment strategies can, in my view, improve long‐term investment performance. Investors need to start taking notice.”

ION Partner Pax World Supports Gender Diversity, Empowers Women with Global Women’s Equality Fund

• There is growing evidence that gender diversity and the advancement of women are key drivers of a company’s success. In fact, studies have shown that companies that integrate gender diversity and women’s empowerment into their business practices are more likely to be successful than their less enlightened competitors. That’s what makes the Pax World Global Women’s Equality Fund so compelling. It is the only mutual fund in America focused on investing in companies that are global leaders in advancing gender equality and women’s empowerment. The way Pax World views it, when women are at the table, the discussion is richer, the decision-making process is better, the organization is stronger and the benefits are felt by everyone – including investors.

Getting on Board: Perspectives for Women on Being Effective Corporate Directors

• With the SEC’s new focus on board diversity, interest is heightened in remedying the underrepresentation of women on corporate boards. Currently, only 12% of private, public and nonprofit board directors are women. Milwaukee Women inc. has challenged Wisconsin’s leading corporations to increase that percentage to 25% by the year 2014.

ION Member, Inforum to Offer Focused Programs to Prepare Women for Corporate Board Positions

• The initiative, called BoardConnections, has been developed in response to needs expressed by Michigan CEOs for better access to qualified board candidates from diverse backgrounds. Its goal is to help retain Michigan’s top female executive talent while addressing new Securities and Exchange Commission rules that require companies to report on their efforts to recruit diverse boards of directors.

Inforum Launches Industry Group to Serve the Needs of Automotive Professionals and Their Employers

• AutomotiveNEXT was established to help women in the industry to lead and succeed, and assist top automotive companies in their efforts to retain top talent and form a deeper connection with consumers. It will comprise Inforum members from all parts of the automotive industry – including foreign and domestic original equipment manufacturers and suppliers of all kinds.

ION’s Opinion Letters to the SEC

• In October 2010, ION filed an opinion letter to the Securities and Exchange Commission (SEC) in response to the Concept Release on the U.S. Proxy System
• In September 2009, ION filed an opinion letter to the SEC supporting their rule proposal that would enhance corporate governance disclosures