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Women & Middle Market Boards Why Women on Boards Today boards are experiencing significant change. Sarbanes Oxley, accounting scandals and increasingly activist fund shareholders are but some of the causes in what many term a sea change. In this context, diversity of directors has come to the forefront. According to the most recent survey of the National Association of Corporate Directors (NACD):
Why Middle Market Boards Middle market companies, in particular, have much to gain from women on their boards. Mid-sized companies represent the heart of United States (US) commerce and industry. Together they total more than 300,000 in number and typically generate between $5 and $250 million in revenue individually. Collectively, they represent more than 40% of the total US workforce.** More nimble and flexible than their larger counterparts, middle market firms stand to gain significantly from women board directors both as subject matter experts and representatives of a key clientele. Most do not use search firms and a variety of women’s organizations are filling the search void. Key is the 30-year old Financial Women’s Association (FWA). Board of Directors Resource Committee The FWA, through its Board of Directors Resource Committee, communicates middle market board opportunities to its highly qualified network of powerful and affluent women. Employers of FWA members include major banks, investment banks, accounting and consulting firms, governmental agencies and corporations spanning a multitude of product and service categories. Members hold senior positions of power and influence:
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