Sponsored by Forest Grove Economic Development
Home Back Issues November 2011 Few women sit on public companies' boards

Few women sit on public companies' boards

| Print |  Email
Articles - November 2011
Wednesday, October 19, 2011
Article Index
Few women sit on public companies' boards
Page 2
Page 3
Page 4
Page 5
Page 6
Companies with/without women on boards
1111_NoSeatAtTheTable_02
"I'd love to see more women pursue technical degrees," says Kirby Dyess, who serves on three corporate boards.
// Photo by Matthew D'Annunzio
Exactly how and why the presence of women on boards improves a company’s financial performance is difficult to pin down. The consensus seems to be that women bring a different perspective to the table, in part because of their status as outsiders, and that “the more types of thinking, the better decisions the board will make,” says Peggy Fowler, retired CEO of Portland General Electric and a director serving on the boards of PGE and Umpqua Holding Corp.

Companies also need more diverse boards for image purposes and to better understand the needs of an increasingly complex and diverse workforce and marketplace. “If you’re sitting on a board where the customer base or buyers are female, you’d have a very difficult time understanding your market with an all-male board,” says Kirby Dyess, principal of Austin Capital Management, a former Intel vice president and a member of PGE’s board of directors. She cited the utilities industry as an example of such a “diversified” sector.

Companies with a critical mass of female board members also tend to hire more female corporate officers than companies without women on the board. According to another Catalyst report, companies with at least 30% women board directors in 2001 had on average 45% more women corporate officers by 2006, compared to companies with no women board members. In both the financial performance and corporate officer reports, the key number of female directors appears to be three. “That’s the magic number where change actually happens,” says Boughton. Oregon’s women executives agree. “When you have more than two women on a board, there’s an additive effect; you have more confidence to speak out,” says Patricia Moss, chief executive and chair of the Bank of Cascades and one of three women who sit on the board of MDU Resources Group, a Fortune 500 company based in North Dakota.

Only four of the 46 public companies in Oregon have at least three women serving on their boards of directors: Nike, StanCorp, Albina Bank and Schnitzer Steel. There are only two companies with female chief executive officers — Schnitzer and Bank of the Cascades. Both  have at least one woman on their boards.



 

More Articles

OB Video: Dress for Success

News
Wednesday, July 02, 2014
DFSOBY JESSICA RIDGWAY | OB WEB EDITOR

Dress for Success Oregon promotes the economic independence of disadvantaged women by providing professional attire, a network of support and career development tools.


Read more...

Q&A: David Lively of Organically Grown Co.

News
Tuesday, July 01, 2014
OGCLogoBY HANNAH WALLACE | OB BLOGGER

Demand for organic food continues to soar: Last year, sales of organic food rose to $32.3 billion — up 10% from 2012. In Oregon, organic produce wholesaler Organically Grown Co. has been championing organic growing methods for four decades.


Read more...

Portland: Where young people go to work?

News
Friday, June 06, 2014
UntitledBY KATIE AUSBURGER | OB GUEST CONTRIBUTOR

How to build a hipster-friendly work environment.


Read more...

OB Video: Oregon MESA

News
Thursday, June 26, 2014

ThumbOregon Business hosts an informal roundtable discussion about the Oregon MESA (Mathematics, Engineering, Science Achievement) program.


Read more...

Community colleges and sustainability

Contributed Blogs
Thursday, July 31, 2014
sustainabilityBY MARY SPILDE | OB GUEST CONTRIBUTOR

Faced with the aftermath of the “great recession,” increasing concern about the environment and dwindling family wage jobs, we have some very important choices to make about our future.


Read more...

Trends in business succession

News
Thursday, July 03, 2014
TrendsBY TED AUSTIN & MIKE BAELE | GUEST CONTRIBUTORS

The Office of Economic Analysis announced that Oregon is currently enjoying the strongest job growth since 2006. While this resurgence has been welcome, the lingering effects of the 2008 “Great Recession” continues to affect Oregon businesses, especially with regard to estate planning and business succession.


Read more...

The Scott Kveton affair

News
Wednesday, July 09, 2014
ScottKvetonBY LINDA BAKER | OB EDITOR

Scott Kveton, the CEO of Urban Airship is taking a leave of absence from the company. As the story continues to unfold, here’s our perspective on a few of the key players.


Read more...
Oregon Business magazinetitle-sponsored-links-02
SPONSORED LINKS