"We knew there weren’t a lot of women in Silicon Valley but new research has shown us how weak these numbers are. Plus on top of that, yesterday it was announced that Facebook, where the queen of Silicon Valley Sheryl Sandberg
works, did not appoint one woman in its reorganization of product leads which opened up five new positions. Way to rub some salt in the wound!
The new research from the UC Davis Graduate School of Management in partnership with Watermark, found a disappointing picture of female representation on the boards and in the executive suites of high-profile companies in California, which together represent nearly $3 trillion in shareholder value. Women still hold fewer than one in 10 of the highest-paid executive positions and board seats at the top public firms in California — a rate that has improved by just 0.2 percent annually. Here are some more staggering statistics:
- More than one-third, or 136 (34%), of the 400 companies had no women among their board directors or highest-paid executives.
- No company had an all-female board or executive management team.
- More than 40% of the 136 companies that tied for last place, with no women executives or board members, are high-tech companies.
- Only 13 public companies had a woman CEO, down from 16 in 2010.
- The software and semiconductor sectors have the lowest percentages of women among the five highest-paid executives in a company, with 4.4% and 2.7%, according to the study. On average, fewer than one in 28 of the highest-paid tech executives is a woman.
“This is a place where technology companies are way behind,” said Marilyn Nagel, chief executive of Watermark. One of the contributing factors to this issue is that these companies often look for board members who have been chief executives of other tech companies, and just 3% of tech chief executives are women, so that..."
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