Message from the Dean D EAR COLLEAGUE S: The UC Davis Graduate School of Management is proud to publish our ninth annual UC Davis Study of California Women Business Leaders: A Census of Women Directors and Highest-Paid Executives. This study details the presence of women at the very top of the 400 largest publicly held corporations headquartered in the state. Our findings continue to paint a disappointing picture: There is only one woman for every eight men among directors and highest-paid executives at these high-profile companies. When we released our study each of the past eight years, it was met with intense interest by the business community, state legislators and policy makers, and garnered widespread media coverage. This year has already seen historic action by the state legislature, which adopted Senate Concurrent Resolution 62. Prompted by our research, the resolution is the first in the U.S. urging public companies to add more women to their boards. There has been little improvement in the gender diversity of the upper echelons of decision makers at the largest public companies in California. These are several key findings of our 2013–2014 census: •
Overall, women hold just 10.9% of board seats and highest-paid executive positions—a 1% increase compared to last year.
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More than a quarter—107 (26.8%)—of our California 400 have no women among their directors and highest-paid executives. This has improved from 127 companies (32%) last year.
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For the first time since 2006, more companies in our study have one woman (33.5%) than have no women (26.8%).
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Not a single company has an all-female (nor gender-balanced) board and management team. However, for the first time in our study, two companies have a female majority (54.5%) among their directors and highest-paid executives.
Thirteen (3.3%) of the 400 companies have a woman serving as CEO, holding steady from last year.
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Our results highlight the need for greater participation of women on corporate boards and in the executive suites, and to help create these opportunities. To improve the standing of women in business leadership positions, the Graduate School of Management has a strong partnership with Watermark, a nonprofit organization that offers several pioneering programs to increase the number of women in executive and board roles, and support them in those roles. At the UC Davis Graduate School of Management, our mission is to prepare our MBA students to become innovative leaders for global impact. Our business school community is built on a foundation of excellence and diversity. Our faculty is now 42% female, the highest percentage among the top 100 global business schools. And The Princeton Review in 2013 recognized the UC Davis MBA program as No. 6 in the nation for offering the “greatest opportunity for women.” When our MBA students graduate and move ahead in their careers, they are terrific resources for companies headquartered in California and beyond. In today’s global marketplace, where diverse backgrounds, skills and experience are critical for strategic and operational decisions, having more women involved at the highest levels of business management and corporate governance can only result in more profitable and well-managed corporations. We are dedicated to helping make that a reality.
Steven C. Currall Dean and Professor of Management
2013 UC Davis Census
gsm.ucdavis.edu
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