For the last five years The Chicago Network has compiled data for those Chicago 50 companies that have women directors and/or executive officers who are women of color.* When we first looked at these numbers in 2005, they were not much different than they are today. The data showed that while 14.4% of all directors were women, just 2.8% of directors were women of color, representing about 10% of women directors. Of all executive officers, 15.4% were women, but just 1.4% of executive officers were women of color, representing less than 10% of women executive officers.

While there have been increases in one area, these have been offset by decreases in the other. Today just 2.7% of all directors are women of color, representing about 20% of women directors, down from 3.1% last year or almost 25% of women directors. This year 1.8% of all executive officers are women of color, representing 11% of women executive officers, up from 1.6% last year or 9.5% of women executive officers. As with much of the data, the overall percentages remain small and the pace of change is too slow.

"It is highly discouraging that the absolute number, and percentage, of women of color on boards of directors and in the executive offices of Chicago's major public companies is so low. What a missed opportunity for Chicago's leading public companies to not reach for every available advantage to be competitive in the marketplace with more innovative thinking, unique perspectives and real experience from new groups of smart people, such as women of color!"

Michelle L. Collins
MC Advisory LLC,
Director of Molex Incorporated,
Blue Cross Blue Shield of Illinois,
Columbia Acorn and Wagner Advisors Trust,
and former director of CDW Corporation

Chicago continues to lag behind the national average. In the most recent Catalyst study, 2008 Census of Women Board Directors of the Fortune 500, women of color made up 3.2% of Fortune 500 boards in 2008, representing slightly more than one-fifth of women directors. This is up from 3% in 2007. Of these, 63.4% were African American, 24.4% Latina, 11.6% Asian and 0.6% other minorities. Study after study links a more diverse workforce to better financial performance. Those companies who recognize the opportunity -- and take action -- will outperform their peers.

* To conduct this analysis, information is requested from the Chicago 50 companies that have one or more women directors or executive officers for whom information has not been provided in prior years. Only companies responding to the request are included in the analysis, so in some years not all directors or executive officers are included. We do not request information from companies that have no women directors or executive officers. Women of Color are non-Caucasian women identified as Black, Hispanic, Asian, Native Hawaiian and other Pacific Islander and American Indian or Alaskan Native. (Source: U.S. Census Bureau Racial and Ethnic Classifications Used in the Census 2000 and Beyond.)