More Women Serving on Maryland Corporate Boards

Maryland has more women in corporate boardrooms that ever before. That’s one of the findings of the 2014 Census of Women Board Directors in Maryland, conducted by Network 2000 Inc.

The survey showed that in 2013, 86 board of director positions were held by women, compared to 73 in 2012. The added seats mean that women held 13.3 percent of all board of director seats in the state, up from 10.7 percentthe largest increase since the annual survey began in 2008.

Each year, Network 2000 Inc. reviews the annual reports of Maryland companies listed on major stock exchanges. The organization’s goal is to increase female membership on boards to twenty percent by 2020. So far, only eight Maryland companies meet that standard. The organization mentors women managers to prepare them for board positions and provides a list of qualified candidates for Maryland companies to consider for new openings.

In 2013, there were only 15 companies in Maryland that had no female executives or directors, down from 24 in 2012. Despite this progress, women are not always present in large numbers on corporate boards and are rarely in the majority. There are only 6 companies in Maryland that have more than two female board members.

Nationwide, more women have professional, doctorate, or masters degrees than men, and the presence of women on a board has been correlated with the success of the companies they serve. Still, according to a Catalyst survey, in the U.S., one-tenth of Fortune 500 companies had no women on their boards in 2012 and 2013.

Longman & Van Grack regularly advises corporate executives and board members and represents corporations on a broad range of business related services. Whether your concern is business formation and structure, a business dispute, corporate succession, or any one of a number of corporate contingencies, our experienced attorneys can give you expert counsel. Call Longman & Van Grack at (301) 291-5027 for a consultation today.