Corporate Boards Need More Women, National Survey Finds : Gender: Only seven of the 12 large companies examined in Orange County have a female director, according to research by an independent organization.
Of 12 large Orange County companies included in a recent national survey, only seven include a woman on their boards of directors.
The survey of 1,000 companies was conducted by Catalyst, a not-for-profit organization in New York. Catalyst examined annual reports and other documents published by the nation’s Fortune 500 and Service 500 companies.
The national survey found that there are 500 women on the boards of those corporations, contrasted with 46 in a comparable survey done in 1977. However, those 500 represent only 6.2% of the total number of directors.
Women serving as directors in Orange County are Tamara J. Erickson at Allergan Inc., Carolyne K. Davis at Beckman Instruments, Cheryl E. Jones at Downey Savings & Loan Assn., Martha R. Seger at Fluor Corp., Susan W. Prager at Pacific Mutual Life Insurance Co., Robin Chandler Duke at Rockwell International and Anne O. Krueger at Western Digital.
Catalyst did not have comparable 1977 figures for Orange County.
Nationwide, the percentage of companies with female directors is 52.6%, according to Catalyst. In the companies that have female directors, 166, or 23%, have more than one.
“This research highlights the need for more women on corporate boards,” said Sheila Wellington, president of Catalyst. “Decisions that affect the increasingly diverse populations of shareholders, employees, consumers and other participants in the global marketplace will be better decisions if the recruitment pool for corporate boards is widened.”
Catalyst has compiled a profile of female directors:
* The average age is 56, according to the survey, compared to 59 for male board members.
* The majority are married (69%) and have children (74%).
* Ninety percent are white.
* And 42% have held positions of leadership in corporations or companies they founded.
Women directors told interviewers that they are motivated to join boards because of interest in the company or because they want to broaden their skills, not necessarily because they want to effect change for women.
Catalyst is an independent organization founded in 1962. It works with senior managers to create programs to encourage promotion and retention of female employees.
Few Women Serve on Top Boards in O.C.
A survey of Orange County’s largest publicly traded companies reveals none having more than one woman on its board of directors and several having none. Includes all Orange County companies on Fortune magazine’s Fortune 500 and Service 500 lists.
Female Company directors Business Allergan Inc. 1 Health care AST Research 0 Computer maker Beckman Instruments 1 Medical lab equipment Bergen Brunswig 0 Drug distributor Downey S&L; Assn. 1 Thrift FHP International 0 Health maintenance Fluor Corp. 1 Engineering/ construction Pacific Mutual Life Ins. 1 Life insurance PacifiCare Health 0 Health maintenance Rockwell International 1 Diversified technology Unionfed Financial Corp. 0 Parent, Union Federal Bank Western Digital 1 Computer components
Company Headquarters Allergan Inc. Irvine AST Research Irvine Beckman Instruments Fullerton Bergen Brunswig Orange Downey S&L; Assn. Newport Beach FHP International Fountain Valley Fluor Corp. Irvine Pacific Mutual Life Ins. Newport Beach PacifiCare Health Cypress Rockwell International Seal Beach Unionfed Financial Corp. Brea Western Digital Irvine
Source: Catalyst; Researched by ANNE MICHAUD / Los Angeles Times
