A Slow but Steady Increase in Gender Diversity on Boards

By Bill Hayes
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Gender diversity in the boardroom is slowly increasing, according to the findings of 2022 Inside the Public Company Boardroom, a report released in January 2023 by the National Association of Corporate Directors. The report, which was released in conjunction with Pearl Meyer, Main Data Group and MyLogIQ, found that 41% of new director appointees were women. The data also revealed that the percentage of female directors was up year-over-year in every segment of market capitalization, with continued progress from 2017 through 2022.

Additional findings of the report include:

  • In 2022, 18% of boards in the Russell 3000 had 90% independent directors, compared with 17% of Russell 3000 boards in 2021. 
  • Use of nontraditional committees, such as risk, technology and sustainability, has become more prevalent over the last two years. 
  • The prevalence of newly appointed directors with technology skills is increasing. 
  • The average tenure of board leadership positions remained steady year-over-year, but a four-year look at the data revealed a slight decrease in the average term of board chairs, from 8 years to 7.

Source: 2022 Inside the Public Company Boardroom, NACD

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