Statewide Women’s Organization Publishes 10th Biennial Women’s Leadership Report and Outlook; Hosts West Michigan Panel to Address Inequities
Report findings continually showcase the lack of progress in diversifying leadership on grounds of race and gender, only 2.2% of Michigan-named executive officers are women of color.
Grand Rapids, Mich. – January 2022 –Inforum, Michigan’s leading professional resource to accelerate women’s careers, will share the results of its 10th biennial Michigan Women’s Leadership Report and discuss women’s leadership in West Michigan on February 3, 2022. The report researched 82 public Michigan companies and found women executives hold 24 percent (2.8 percent women of color) of the seats on corporate boards and 14 percent of the top-five compensated officer positions. The first biennial report in 2003 reported these numbers at 9.6 percent and 7.1 percent, meaning in 20 years we’ve seen percentage point increases of 14.4 and 6.9.
The event will feature a robust panel of experts at an event on February 3, 2022, from 7:30 – 9:30 am, is open to the public, and will take place at Watermark Country Club (1600 Galbraith AVE SE). Virtual and in-person tickets are available atinforummichigan.org. Proof of vaccination or negative PCR test taken within 72 hours of the event is required.
“This event will show leadership and success beyond the numbers,” said Terry Barclay, president, and CEO of Inforum. “We grow and evolve by learning from the women who came before us and hearing about their challenges and opportunities as women in the highest of leadership.”
Inforum has been tracking women leadership in Michigan’s top public companies and releasing the results in a biennial report since 2003. The latest report was conducted in collaboration with Wayne State University’s Mike Ilitch School of Business.
Other key findings for Michigan public companies in the 2022 Michigan Women’s Leadership Report include:
Directors:
● Forty-seven newly appointed women directors.
● Nine public companies in Michigan have zero women directors.
Named Executive Officers (NEO) (typically, named executive officers include a company’s CEO, CFO and the three next most highly compensated officers):
● Fifty-two (14 percent) women.
● Eight (2.2 percent) women of color.
● Forty-six percent of the 82 companies studied report at least one-woman NEO in their 2021 proxy statements.
● Forty-four public companies in Michigan have zero women named executive officers.
Executive Officers (the SEC refers to executive officers as individuals who perform policy-making functions and/or are presidents or vice presidents in charge of principal business units, divisions or functions):
● One-hundred-seven (20 percent) women.
● Fourteen (2.6 percent) women of color.
● Twenty-three public companies in Michigan have zero women executive officers.
● Only one out of five executive officer positions are held by women in the 82 public companies studied, up only one percentage point from the 2020 report.
The February 3 event will feature a panel of experts to discuss what they have learned about leveraging gender equity to improve business. The panel will be moderated by Shelley Irwin, host and producer of the WGVU Morning Show. Panelists are:
● Birgit Klohs, Founder, New Community Transformation Fund; retired CEO, The Right Place, the regional economic development organization. In addition to serving on the Macatawa Bank board, she serves on the boards of several local and state organizations and businesses, and in 2014, Gov. Snyder appointed her to the International Authority Board, a joint authority between Michigan and Canada for the construction of the Gordie Howe International Bridge.
● Candace Matthews, corporate director of MillerKnoll. She was appointed to the MillerKnoll board of directors in 2020. She recently retired as the chief reputation officer of Amway, and also held roles as regional president of the Americas and chief marketing officer. Previously, she was president of SoftSheen-Carson, a consumer products division of L’Oreal USA, and held marketing leadership positions at Coca-Cola, General Mills, and more.
● Shoran Reid Williams, senior counsel at Miller Johnson Attorneys. Her litigation experience spans more than 27 years and ranges from in-house counsel at a Fortune 500 company to law firm practices in Michigan and Georgia. She also has spent several years as an adjunct law professor, author, and small business owner. She is chair of Miller Johnson’s cannabis practice. She serves on the boards of Cherry Health and Mercantile Bank.
The Women’s Leadership Report analyzes the gender makeup of the boards of directors and executive officers at Michigan’s top public companies in 2022 and compares it to past years. This year focuses on diversity and its lack of presence in the C-suite.
“We have to continue making progress and building upon the standard that’s been set,” Barclay said. “Inforum is a proud conversation starter to building more inclusive leadership throughout the state.”
About Inforum:
Inforum, with offices in Grand Rapids and Detroit, was founded in 1962 as the Women’s Economic Club and works to change the landscape of women’s leadership in Michigan by serving as a catalyst that removes barriers and increases opportunities for women. Through engaging programming, leadership development, and networking opportunities, Inforum creates a platform that helps women learn, lead, and make a difference in the community.
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