A Good News Bad News Story
Washington Post reporter Jena McGregor wrote, “After being stuck at 16 percent for several years, the percentage of women-held board seats in the S&P 500 now reaches nearly 27 percent, according to data from ISS Analytics, the data arm of the proxy adviser Institutional Shareholder Services
For Healthcare Businesswomen’s Association
Data from Catalyst, Korn Ferry and other organizations consistently show that companies with three or more women on their board of directors outperform their peer groups. That’s the good news. President, CEO and director of Campbell Soup Company and director of MetLife, Inc. Denise Morrison has said, “While women build strategic plans for their brands or for their companies, they don’t do strategic plans for themselves or think about taking board seats elsewhere.” That’s the bad news.
Event sponsors Pepper Hamilton, LLP and Benchworks, in conjunction with HBA West Chester, hosted an Executive Breakfast where four senior leaders who serve on corporate boards, shared their personal experiences to help attendees:
- Determine if corporate boards are right for you
- Understand the steps, requirements and support needed to secure a first board seat
Here are the Pearls of Wisdom from our four experienced panelists:
It is never too early to start your research. Rachel Bushey advised to begin networking before you are ready for a board appointment; this way people can see you in action. Start by making a list of the companies you admire most and where you think you could make a significant contribution. Identify your unique selling proposition. Begin speaking to people who sit on boards. Catherine Sohn said, “Use your personal and professional network to let people know what you are looking for in a board position.”
