Action in the local regulatory realm: the next step?

• Position: BOARD DIVERSITY

Ed. Note: Will state and city governments, through regulatory action, open up opportunities for more women to serve on corporate boards? Look at what happened in Philadelphia this year. The city may be an early mover in a new phase of board diversity activism. In May 2012 Philadelphia City Council held a public hearing to examine the level of female participation on the boards of companies that contract with the city. The initiative was led by Councilwoman Blondell Reynolds Brown, majority whip of the governing body and the only woman serving in the City Council leadership. (And whose motto is: "Dream big and if that does not work--dream bigger.") Seventeen leaders from the business community were invited to testify, including Directors & Boards Editor James Kristie. A formal follow-on report is being prepared. Excerpts from a selection of the testimony given that day follow.

A recent study by the Forum of Executive Women shows that female representation on the executive boards of Philadelphia's top 100 companies is disappointingly low in comparison to the number of women in the population at large and in the workforce. This is an unfortunate situation that needs to be addressed. Studies have demonstrated that the full participation of women in the boardroom and the inclusion of their voices in policy making decisions are not only beneficial to women but also makes good business sense.

In the world where I work, we know that if you're not at the table, then you're on the menu. The issue of Jack of women at the table is the root of a greater problem that is plaguing our public dialogue. When women are not at the table, public debate that amounts to an all-out assault on women's rights takes center stage when it doesn't even belong in the theatre. We knowthatwhen women are at the table, typically the outcome and the resolution is different.

In the public hearings, we will focus on the composition of executive boards that contract with the City. it is my hope that we can take a fresh look at this problem and begin a dialogue that will result in increased female representation on the executive boards of companies doing business with the City and, through their leadership, on the boards of many other companies in Philadelphia as well.--Blondell Reynolds Brown

We believe that having more women in executive positions and on boards is good for business and provides different perspectives that are critical for managing a company. Diverse thinking...