A new study found that Colorado public companies added women to their boards at a faster rate in 2018, with the state still lagging the national average.
DENVER, Colo., February 18, 2019 – The percentage of Colorado public company board positions held by women increased to 14 percent in 2018, according to the most recent “Women on Colorado Boards: State of the State” study conducted by Boardbound by Women’sLeadership Foundation.
This is an increase of two percentage points over the previous year and the highest percentage of Colorado board seats held by women recorded by Boardbound since it began tracking the measure in 2011. At that time, seven percent of Colorado board seats were held by women.
Other findings, as of December 31, 2018:
“The commitment of Colorado CEOs and board directors to transform Colorado from lagging to leading with women on boards is gaining momentum,” said Jo Lynne Whiting, Chair of Boardbound by Women’s Leadership Foundation. “Because research shows that companies with gender-diverse boards have better performance, we look forward to Colorado companies reaping the same bottom-line benefits.”
MSCI research found a significant difference in performance by companies with sustained representation of three or more women on their boards versus those with none. Companies with three or more women on their Boards saw a 37 percent increase in earnings per share growth versus an eight percent decline for those with all-male boards.
Colorado legislators encouraged companies to include more women on their boards through a legislative resolution that passed with bipartisan support in March 2017. Twenty percent of Colorado public companies are currently meeting the targets set for 2020.
About Boardbound by Women’s Leadership Foundation:
Boardbound by Women’s Leadership Foundation, a 501(c)(3) organization. The mission ofWomen’s Leadership Foundation is to open more board positions to women in Colorado and beyond. Programs include Corporate Boardbound and Community Boardbound, Boardconnect, CEOs for Women on Boards, and Latinas in the Boardroom.