The Damaging Myth Perpetuated by Male Leaders and Why They're Wrong
Peter T. Grauer is Chairman of Bloomberg L.P. and Founding Chairman of the U.S. 30% Club
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Peter T. Grauer
One of the most persistent, destructive myths stalling progress towards gender parity in the boardroom is a belief — held primarily by male directors — that there simply aren’t enough board-qualified women to fill available seats.
The data tells us this simply isn’t true. A recent study looked at more than 8,500 females at the executive committee level of public U.S. companies: women with some of the most sought-after backgrounds and experiences for corporate directorships. Yet just 14% of these women are currently serving as board members and only 21% have experience as a director. Examining a smaller pool of females with CFO/financial executive experience — the second most commonly desired background for board members — reveals that fewer than 24% have served on a board. The numbers are similar across females in traditionally valued leadership roles like operations as well as those in technology and marketing, two increasingly desired skill sets in today’s boardrooms.
