Where Women Stand on Colorado Corporate Boards

Colorado more than doubles proportion of women on boards since 2011

percent women on boards of Colorado publicly traded companies increased from 11% in 2011 to 16% in 2019
The most recent “Women on Colorado Boards:  State of the State” analysis conducted by Boardbound by Women’s Leadership Foundation found that 16 percent of board seats at Colorado public companies are held by women as of June 30, 2019.  This is an increase of nearly three percentage points over the same research conducted one year ago.

We salute the Colorado CEOs and board directors for achieving their ambitious target set in 2016, of a 50 percent improvement in the representation of women in board positions within three years.

Colorado is making progress at a faster rate

A majority of public companies now include a woman on their board

Over 70 percent of Colorado public companies include a women on their board as of June 30, 2019.  This is a marked improvement over the minority of 44 percent of companies that included women on their boards in 2011.  In fact, of the 21 companies who added a woman to their board in the first half of 2019, 13 previously had an all-male board.

Larger Colorado companies lead the way including women on their boards of directors

Half of Colorado Fortune 500 companies have 3 or more women on their boards.  This is important because research shows 3 or more women on a board changes board culture by getting past tokenism and significantly improves corporate performance.  However, when all Colorado public companies are considered, only 15 percent are taking advantage of having 3 or more women on their boards.

Colorado Fortune 1000 companies are on par nationally

In 2015, Colorado Fortune 1000 companies were 3 percentage points behind the average of their national counterparts.  However, they have closed that gap.  It is our hope that they will begin leading the nation demonstrating the value of women and men leading side by side, lifting their companies to greatness.

However, Colorado still lags the nation when we look at Russell 3000 companies

Findings from the State of the State analysis show that while Colorado is making progress, the state still has room to improve.  In the first half of 2019, Colorado companies that are part of the Russell 3000 lagged 2.2 percentage points in board seats held by women.

Even though Colorado-based companies on the Russell 3000 companies have significantly reduced the number of all-male boards, they are still 6.5 percentage points more all-male boards than the national average.  Boardbound by Women’s Leadership Foundation can connect them with board-ready talent through our Boardconnect program.

Colorado also lags in the proportion of executive officer positions held by women

As new companies enter the Colorado market and current companies continue to grow, building a robust and diverse pipeline of Colorado women executive officers is critical to progress given the current low level of less than 13 percent of named executive officer positions held by women.

We hope this analysis encourages companies to open both more executive officer positions and more board positions to women.

Colorado is committed to marked improvement in gender board diversity

In March 2017, Colorado became the 4th state to pass a Legislative Resolution encouraging more women on boards.  The resolution with voluntary targets to meet by 2020 passed with bipartisan support from the House and Senate.

As of  the first half of 2019, 23 percent of Colorado public companies meet the targets.  Hopefully, there will be significant progress in the next 18 months.

Would you like to know how many women are on each of Colorado public company boards?

Click here to see Colorado Public companies ranked by number of women on their boards as of June 30, 2019.

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