Dive Brief:
- The share of women on the boards of companies included in the Russell 3000 Index dipped during the first quarter below a 30% benchmark to 29.9%, according to a recent study.
- The decline marks a further reversal of progress from the peak-level 30.4% board representation achieved during Q1 2025, according to Women 50/50, which advocates for gender parity.
- “Notably, 86.2% of seats gained by women were newly added board seats, while only 13.8% came from replacing male directors,” Women 50/50 said, citing research conducted with Equilar. “This reinforces a consistent trend: Women’s gains continue to rely more heavily on expansion than on intentional board refreshment.”
Dive Insight:
The Women 50/50 findings echo other recent studies revealing persistent limits on opportunities for women at the highest levels of business, as well as in the early stages of a career.
For example, women executives in the U.S. and Canada last year held just 30% of C-suite roles, and confronted a “broken rung” in opportunities to rise to manager from entry level, McKinsey said, citing a study of 124 companies.
For every 100 men, only 93 women were promoted to manager, according to McKinsey. “As a result, men significantly outnumber women at the manager level, and women can never catch up,” McKinsey said.
Only about half of companies consider women’s advancement to be a high priority, and 20% of companies say they place little or no priority to such a goal, the consulting firm said.
Also, women in leadership roles gain less consistent support from their superiors than men, receiving less encouragement, advocacy and advice, McKinsey said, citing a survey of 9,500 employees.
“Women at senior levels miss out on valuable training,” McKinsey said. “Men at their level are far more likely to be offered the chance to participate in leadership or career training — at a time when it can be critical for their progression.”
At the board level, racial and ethnic diversity has also ebbed, Women 50/50 said.
Women of color during Q1 held 7.3% of board seats among Russell 3000 Index companies, a 0.1 percentage point decline compared with the preceding quarter, according to Women 50/50. Men of color saw a similar decline during the same period, to 11.2% from 11.3%.
Women during Q1 held the highest representation on the boards of utilities and consumer-oriented companies, while energy, financial services and energy companies offered the least board representation for women, Women 50/50 said.
