2002 CWDI Report: Women Board Directors of Texas-based Fortune 1000 Companies
The 2002 CWDI Report: Women Board Directors of Texas-based Fortune 1000 Companies focuses on 95 companies based in Texas which ranked within the 2002 Fortune 1000 listing. The study found that women held 8.4% of all board seats.
KEY FINDINGS
- Only 8.4% of corporate board seats in the Fortune 1000 companies based in Texas were held by women by the end of 2001. This percentage ranks below the current national percentage of 10.9% women’s representation on the boards of directors of the nation’s 1000 largest corporations.
- Only 55 companies out of the 95 (57.9%) Fortune 1000 corporations headquartered in Texas have women on their boards.
- Among those companies with female corporate directors, Michael’s Stores ranks first in having 33.3% of its board made up of women or two women directors out of six. The company with the most number of women is SBC Corporation with 6 female directors out of 21 (28.6%).
- Among the companies that do not have women on their boards, 40% are in the very industry areas that have defined Texas business – energy, oil and gas. The one exception is ExxonMobil, which has three women in its board of 12 (25%), ranking it fourth in the top ten list of Texas-based companies with women directors.
- Among the 20 banks (ranked in size by the Texas Dept of Banking in its 2001 listing) with assets over a million dollars, only 17 board positions out of 276 are held by women, resulting in 6.2% female bank board representation.
- The Top Ten Banks with the highest percentage of women directors include the Texas Bank, which ranks first with 22.2% of its board seats held by women (2 out of 9). Second place is held by the International Bank of Commerce, which has two women in its board of 10 or 20%.
- Texas-based insurance companies have the best representation of women on their boards, with 15.1% of board positions held by women in the 20 companies with more than 1% market share ranked by the Texas Dept. of Insurance.
- The Association Casualty Insurance Company ranks first among the Top Ten Insurance Companies with the highest percentage of women directors, with three women directors out of seven (42.7%).
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