eBrief  |  Issue 08  |  January-February 2010
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"This accord cannot be everything that everyone hoped for, but it is an essential beginning..."


This description of the Copenhagen Accord on December 19th by United Nations' Secretary-General Ban Ki-moon is equally apt for the new proxy disclosure rules adopted by the Securities & Exchange Commission just three days earlier.Beginning in 2010, public companies and mutual funds will - for the first time - be required to describe in their proxies whether and how diversity is considered in their board nomination process.Further, those who have diversity policies will be required to discuss how they are implemented and whether they are effective.They also will be required to disclose each individual director's and nominee's particular experience, qualifications, attributes and skills that led the board to conclude they should serve as directors. For more details and a link to the new proxy rules, read the SEC press release.

 

So, despite MWi's 2009 biennial report showing no net gain in women directors and executives in the top 50 Wisconsin public companies ("WI 50") from 2007 to 2009 and despite the WI 50 being behind the national average in gender diversity, there are still reasons to be optimistic that Wisconsin companies will respond to MWi's challenge to increase by 25% the gender diversity on their boards within the next five years and to use MWi's biennial report to measure the effectiveness of their diversity policies. Indeed, at the beginning of a new year and a new decade there are a number of signals that suggest we are approaching a tipping point that will drive change in corporate leadership in America and around the world. 

 

We invite you to read more in this issue of Ebrief, and to share it with your colleagues, friends and others interested in knowing more about the positive differences increased board diversity makes, together with how savvy members of the business and investment communities are making diversity an integral part of their strategy.

 

Jilaine Hummel Bauer

MWi Steering Committee Member

Founder & Principal, Bauer Consulting
A chart-busting number
Although studies continue to show the percentage of board seats held by women in public companies continues to be small among Fortune 500 companies (15%) and an even more disappointing percentage for smaller companies, according to Directors & Boards, 38% of newly elected directors in the first quarter of 2009 were women and 43% were women in the third quarter! Read more...


Sea change in how Americans think about business and the boardroom follows the economic crisis.
"Where Main Street Meets the C-Suite" discusses results from a first-time, base-line "What Society Thinks" survey conducted in September and October of last year by Directorship Magazine, together with Deloitte and Korn/Ferry International. Read more...


This sea change is not limited to America's shores
France's ruling party introduced a bill in parliament this past December stipulating that at least half of all company board members should be women within five years. Read more...

And a similar action was proposed by the Australian Securities Exchange the same month. Read more...


Gender diversity is cornerstone for new Investment Index
A new Gender Investment Index Series being developed is comprised solely of companies that promote gender equality, reflecting growing recognition in the investment community of research showing that such practices almost always have a positive impact on corporate performance. Read more...


Calvert files its 50th Diversity Shareholder Resolution
Filing its 50th Shareholder Resolution on Board Diversity last December, Calvert Asset Management has engaged hundreds of companies on the issue of gender diversity as a component of good corporate governance and overall corporate responsibility. Read more...

Calvert's model diversity resolution is one benchmark by which investors can evaluate the diversity policies that companies will be disclosing in their proxy statements for the first time this year. Read more...


Will the new "normal" mean more women leaders?
As the "Old Norms" vanish, women can meet the needs of the "New Reality" taking shape on today's business landscape, but there is work to be done. Learn what Deloitte Chairman Sharon Allen has to say about it. Read more...


National Director Institute web conference series on governance and business strategies
Learn more about adapting corporate governance and business strategies to the "New Reality," by participating in the web conference series sponsored by Foley & Lardner's National Directors Institute, an interactive forum of business leaders and governance experts. In particular, check out "Trends in the Recruitment and Selection of Directors" on April 21st. Read more...


Center for Corporate Governance provides resources
More on corporate governance leading practices can be found at Deloitte's Center for Corporate Governance - a resource for executives, directors and the governance community on the latest and most relevant corporate governance trends, regulations and leading practices. The Center's resources include research and thought leadership, monthly Dbrief webcasts and newsletters. To receive their newsletter, go to their website and click "Register" at the top right of the screen.


Gender also matters on the boards of higher education
When it comes to faculty hiring, the answer appears to be Yes. And having a critical mass of women on boards of trustees also makes a difference. These are the results of a study released by the Cornell Higher Education Research Institute. Read more...


The talent gap between corporate management and leadership
A new report shows that structured talent management programs may help increase the number of women in upper management positions. Read more...


Remembering the slogan of Rosie the Riveter
At a time when the world is short of causes for celebration, here is a candidate: within
the next few months women will cross the 50% threshold and become the majority of the American workforce. Read more...
Milwaukee Women inc is a collaborative effort of executive and professional women working to change the face and quality of leadership through the advancement of women.

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