Courtesy of "Mad Men" AMC series
In the Wall Street Journal today, Index-fund giant State Street Global Advisors, which oversees more than $2.5 trillion in assets, found of the 468 companies it owns shares of in the U.S. lacked a single female board member. Of that group, about 400 companies failed to address gender diversity in any meaningful way. State Street Global Advisors then voted against the re-election of directors charged with nominating new board members at each of these companies.
Progress has been slow. Nearly a quarter of the companies in the Russell 3000 index lack a female director, according to ISS Analytics, a unit of Institutional Shareholder Services.
Health-care companies were the worst performing group, accounting for about a quarter of those with no women on their boards.
Companies may talk a "big game" about gender diversity, but there is little follow through.
Boards have been slow to add women for various reasons, including their infrequent turnover and preference for experienced chief executives. But there also has been limited pressure from big institutional investors.
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Read the rest of the Wall Street Journal article here.