Welcome to 2016. The year in which American companies are still failing to put women on their boards and in executive roles. Despite multiple studies that show how a more diverse team makes better decisions.
Samsung, Nintendo, Nissan and Kia Motors are just a handful of companies that have zero female board members.
State Farm, Chipotle, Costco, CBS, and even make-up brand Revlon are just as bad with no female executives.
That’s according to LedBetter, a research startup that launched on Tuesday.
LedBetter is tracking gender equality on boards and in the executive ranks of 2,000 big consumer brands.
Co-founder and CEO Iris Kuo says LedBetter wants consumers to make better informed decisions by understanding what companies are discriminating against female board members and executives.
“People need to be educated on this topic and understand where their money is going,” said Kuo, who said the idea came from a 2013 interview with Sallie Krawcheck that she read in the Washington Post. In it, Krawcheck noted that women told her they’d buy differently if they just knew the company’s gender makeup.
“We want to provide actionable data for the huge conversation that’s happening right now around diversity,” added Kuo.
The data underlines Catalyst’s latest findings, also released on Tuesday, on the lopsided representation of women at S&P 500 companies.
Women hold just 19.9% of board seats at S&P 500 companies, and only 14% of companies are even approaching gender parity on their boards.
Of the 230 parent companies in LedBetter’s database, only 6% — just 14 — had female CEOs.
The best chance for a female to land a leadership role is in personal care, apparel, and general retail.
Gap might have one of the best track records with its board comprised of 36% females and its executive team is 57% female.
Revlon has no female executives but its board is 33% female. Mattel, which makes Barbie, similarly has no women on its executive team, but its board is made up of 30% females.