Eds and Meds - Academic and Medical Board Opportunities

“Large for-profit corporations have faced pressures to diversity their boards of directors from major shareholders, advocacy groups, some government entities, and the media. Their interest is based on years of research and reporting on the benefits of diversity. The largest nonprofits — educational and healthcare organizations (Eds and meds) — have not faced comparable scrutiny or pressure. In fact the composition of the Eds and Meds boards is sometimes challenging to discover.” - from Increasing Gender Diversity on the Boards of Nonprofit Eds and Meds by Vicki Kramer and Carolyn T. Adams.

On June 23, Community Boardbound hosts the panel, "Eds and Meds - Finding an Academic or Medical Board", to explore the challenges and opportunities of academic and medical boards. This panel conversation features the following experts:

• Dr. Jean Kutner, Chief Medical Officer at UC Health will moderate the panel

• Vicki Kramer, researcher and author of Increasing Gender Diversity on the Boards of Nonprofit Eds and Meds: Why and How to Do It

• Patti Klinge, Board member of Denver Health and Hospital Authority

• Ellen Balaguer, Chair, CU Boulder Leeds Advisory Board

Experience on boards of smaller non-profits can lead to opportunities on these larger, more complex medical and academic boards. The journey to find an Eds or Meds board seat has some differences and some similarities to the journey for corporate board seats. Serving on these boards is also an opportunity to exhibit board skills on the path to larger corporate boards. This webinar is open to the public.

Boardconnect

This essay is from the Boardbound June Newsletter. Read the full newsletter here.

Westwater Resources (NYSE) was an early pa

rtner with Boardconnect.

The board members are l to r: Chris Jones, CEO; Tracy Pagliara; Deborah Peacock; Karli Anderson; and Terence Cryan, Board Chair. Westwater selected Karli Anderson to join the Westwater board from a slate of women candidates provided by Boardconnnect.

We asked Terence for his perspective on the Boardconnect program:

"Achieving balance on the board of Westwater Resources was the achievement of a goal that has returned to us many benefits and rewards, both tangible and intangible. Thank you to the Women’s Leadership Foundation for your help along the way!"

The idea for Boardconnect came from one of the first meetings with CEOs for Women on Boards back in 2016. One CEO said his company would like to add a woman to their board but he didn’t know any who met their requirements. That’s when we decided we could help. We developed a program called Boardconnect.

As experts in preparing qualified women for board service, we listen to what strategic skills clients need on their board to meet evolving challenges and to balance their board. Our team immediately reaches out to qualified women who meet those requirements to verify their interest. We are very lucky to have rich talent in Colorado with the more than 100 women living here who already serve on corporate boards, the more than 75 Corporate Boardbound participants and alumnae, and others in our network. We have national reach through our partnerships with other organizations who share the commitment of advancing women on boards.

Boardconnect works directly with the client or with the client’s professional search firm. We review many potential candidates and share with the company prioritized candidates. The client is provided the candidate’s skills, background and board readiness that meet their specific requirements with a cover letter, along with their bio and resume.

It is very gratifying when clients tell us how impressed they are with the qualifications of the women candidates Boardconnect provides them, and very gratifying when they come back a year later to tell us how much the candidate they selected has added to their company’s success.

We had the opportunity to make recommendations to 45 companies in 2020. Besides the clients that come directly to us, we receive requests from our partner organizations like ION Women, The Thirty Percent Coalition, Athena Alliance, and Him for Her.

There is no charge for Boardconnect to introduce clients to qualified candidates. However, we do ask them to consider a donation if they select a candidate we recommend so we can continue our work.

Our mission is to open board positions to women in Colorado and beyond. Connecting board-ready talent to organizations eager to achieve extraordinary results is key to our mission.

CEOs for Women on Boards Aspire to be Leaders in Board Diversity

Colorado CEOs, Board Chairs and Directors attended a Boardbound event on May 4th to celebrate progress and address the remaining challenges in board diversity. We all want Colorado to be a leader in board diversity for our public and private companies, but we are still a bit below the national average.

John Kelley, Chair of CereHealth, and a mentor for our Corporate Boardbound program, was the host for the event. With Noreen Doyle, former Chair of Newmont, they shared their insights as Boardbound Trailblazers starting in 2016 to support efforts to get women on corporate boards. Newmont is the only Colorado company that has had three or more women on their board since 2011. Gloria Zamora, Chair of our CEOs for Women on Boards committee, talked with John Hayes, Chairman and CEO of Ball Corporation, and Javier Rodriguez, CEO of DaVita, about their success in building strong diverse boards.

In small breakout groups, the CEOs and board directors discussed gender and racial board diversity. The most important change to achieve board diversity is to broaden the search for qualified women candidates, and to consider skills and expertise other than CEO or C-suite positions. We hope companies will consider our Boardconnect program to be introduced to talented women who meet their requirements.

The evening concluded with eight company leaders receiving an award for having a gender balanced board in 2020. We selected eight original and unique art works, to symbolize the different path that each company takes to achieve board diversity, and we hope the art itself will remind the CEOs of their aspirations to help their company achieve their diversity objectives, and will inspire other CEOs to implement board diversity.

Boardbound’s mission is to open board positions to women in Colorado and beyond. Yet, we know we are not the decisionmaker for board positions. That is why we are so thankful for the support of the CEOs for Women on Boards community. We support these CEOs and boards in every way we can.

While Colorado has increased the proportion of women on public company boards from 11% in 2015 to 21% in 2020, we know Colorado can be a leader in board excellence, and that requires improving our board diversity from average to exceptional. We have more work to do, and the CEOs and board leaders working with us are the key to success.

Anne Noonan, CEO of Summit Materials (NYSE: SUM), (photo above) is one of the eight CEOs and companies recognized as winners of the 2020 Gender Balanced Board awarded by Boardbound by Women's Leadership Foundation. The award itself is an original painting from a Boulder, CO artist, Laura Brenton (see artwork Anne is holding).

Women’s Leadership Foundation’s Policy on Board Diversity and Reporting

The research is clear – diverse boards and leadership teams improve business results, reduce risk, and increase employee retention and productivity.  Institutional and personal investors, stock exchanges here and abroad, US states and European countries are also choosing to invest in companies with both racial and gender diversity on their boards.   

The Women’s Leadership Foundation is an active supporter of boards, CEOs, and investors to provide highly qualified women as board candidates, to prepare executive women with the skills to become successful board leaders, and to improve transparent best practices board governance.  We align with all of the stakeholders that recognize the research, seek the benefits of board diversity, and advocate for standard, transparent reporting.  We are collaborators and partners for public and private sector leaders to improve Colorado’s boards, financial results and to achieve desired governance objectives.

With this active support, Colorado companies have improved board diversity, so the state is now an “average” state with 21% of women holding board seats in public companies in the state and 8 companies with gender balanced boards.  We intend for Colorado to be a national leader in board diversity.  WLF will continue to apply resources, information (Denver Post article, Feb. 25, 2021), and visibility to improve this “average” rating. We are encouraged by and commend Colorado public and private sector leaders who are committing to build strong diverse boards with the strategic skills they need to succeed.  We are aligned with states and organizations that support our vision and we look to learn from national and international policies and progress, including regulations, to evaluate benefits from different approaches.  

Women's Presence on Colorado Corporate Boards Nearly on Par with National Average

Read the Denver Post article here.

Jo Lynne Whiting, Chair of Boardbound by Women’s Leadership Foundation, poses for a portrait in front of Summit Materials office in Denver on Tuesday, Feb. 23, 2021. Summit Materials has a woman CEO, Anne Noonan, and a gender-balanced board.

Colorado is Opening Board Positions to Women Faster than Ever

Women hold 21 percent of board positions at Colorado public companies. This is a four percentage point increase in 2020--our greatest growth ever in a one-year period.

For the first time, Colorado also is on par with the national average for similarly sized companies. Now, what will it take for us to become a national leader?

Eight Colorado companies have achieved gender balance on their board. However, nearly 20 percent of Colorado public companies have all-male boards.

See the full analysis here.

It will take all of us for Colorado to become a national leader in board diversity.

WHAT BOARDBOUND BY WOMEN'S LEADERSHIP FOUNDATION IS DOING TO OPEN MORE BOARD POSITIONS TO WOMEN:

• We inspire leaders to champion and pursue greater board diversity.

• We equip women to skillfully step into board service with our Corporate Boardbound and Community Boardbound programs.

• We connect board-ready talent to organizations eager to achieve extraordinary results through our Boardconnect program.

WHAT YOU CAN DO TO ADVANCE BOARD DIVERSITY:

• Get informed. Research how many women sit on the boards of companies you work for, buy from, invest in.

• Advocate. Most people are surprised Colorado is not a leader in board diversity. Help raise awareness of the issue and rally support.

• Join a board. Practice good governance on a non-profit board or city/state board or commission. Target a corporate board seat as part of your career plan.

• Invest with a gender lens. Invest in women-owned, women-led companies and those where women are well represented in the C-Suite and on boards.

• Support Boardbound. Our mission is to open more board positions to women in Colorado and beyond. Your support increases our impact.

Announcing Graduation of 19 Community Boardbound Participants

Boardbound by Women’s Leadership Foundation, a nonprofit with the mission of opening more board positions for women in Colorado and beyond, is thrilled to announce the graduation of 19 Community Boardbound program participants, who are eager and qualified for community board service.

Community Boardbound is a certificate-based, leadership program that prepares women for service in board leadership roles including; non-profit, boards & commissions, libraries and universities.  In addition to following a curriculum-based program, participants also receive strategic placement assistance.

Recent graduates of the program include: Eli Stanley, Ashley Comstock, Lauren Riley, Michelle Johnson, Shauna Hoekstra, Lisa Cashman, Brooke Severyn, Katie Genova, Kelly Cruse, Stacy Aurich, Nicole Pearson, Michele Bodie, Misti Rice, Heather Beach, Maha Sabra, Sheila Duffy, Christina West, and Raquel Hinman.  See the bios of the graduates of the program here.

“The Women’s Leadership Foundation applauds the Community Boardbound Planning Committee who successfully implemented an all virtual program this year and for their commitment to implementing a high quality, impactful program,” shared Barbara Bauer, Executive Director, Women’s Leadership Foundation. 

Committee members include:

Barry Burch Jr., City & County of Denver, Office of Mayor Michael B. Hancock 
WLF Board Member & Committee Co-Chair
Akila Copeland, Caring for Denver Foundation
Melanie Dunn, Financial Advisor, Edward Jones, WLF Board Member
M.L. Hanson, Consultant, WLF Board Member & Committee Co-Chair
Danielle Lewis, Assistant Attorney General, Colorado Department of Law
Carrie Singer, City & County of Denver, Denver Economic Development & Opportunity

About Boardbound by Women’s Leadership Foundation

Founded in 2002, Boardbound by Women’s Leadership Foundation advances the cause of board parity; connects companies seeking women board members with board-ready candidates; prepares women to be board-ready through its Boardbound program and; runs the Community Boardbound program to enable women to serve on nonprofit boards.

Barbara Bauer to Lead Boardbound by Women's Leadership Foundation

Barbara Bauer

Executive Director

Boardbound by Women’s Leadership Foundation is thrilled to announce the appointment of Barbara Bauer as Executive Director.

Research shows more women serving on a board benefits that company’s bottom line, sound governance and reputation. While Colorado public companies have made gains – going from 7% of women on boards in 2011 to 19% in 2019 – the state still lags behind the national average.

“We know Colorado can be a national leader in board diversity as the state is in so many other areas. We appreciate the growing support that enables us to put an executive director in place dedicated to driving our mission,” said Jo Lynne Whiting, Chair of the Board of Boardbound by Women’s Leadership Foundation, “and Barbara Bauer is just the person with her proven track record of execution excellence in collaboratively building opportunities for women and girls throughout her executive and non-profit leadership career.”

Barbara Bauer previously served on Boardbound by Women’s Leadership Foundation’s board of directors and was until recently the Executive Director at Women’s Investor Network (WIN) at Rockies Venture Club. She also has extensive corporate, non-profit, entrepreneurial and global experience.

According to Bauer, “the Women’s Leadership Foundation (WLF) has made substantial progress preparing and presenting women to serve on corporate and community boards, but there is more to be done. The WLF Board made a decisive commitment to address this challenge by adding the Executive Director position, and I am delighted to have the opportunity to help address the challenges remaining to achieving women’s full participation on boards of directors."

See Barbara’s bio.

Women's Leadership Foundation Co-Hosts 2020 Women on Boards Denver Conversation on December 2nd

Ten years ago 2020 Women on Boards began National Conversations about how we could achieve at least 20% women on boards by 2020.  The goal has been achieved--and then some--nationally.  Fortunately, Colorado Russell 3000 companies achieved 20% women on their boards as of June 2020.

The Global Conversation occurred November 12th and the Denver Conversation is December 2nd from 4:30 to 6:15 pm.  Boardbound by Women's Leadership Foundation is proud to be part of the Leadership Committee for the Denver event.

The VIP Keynote Panelist includes:

• Dave Boenninghausen, Noodles & Co. CEO

• Colleen Brown, Big 5 Sporting Goods Board Director

• Frances Vallejo, Cimarex Board Director

• Yuval Wasserman, Advanced Energy CEO

See the profiles of the Panelists and Director Coaches who will lead small group discussions on the link above.

Thanks to Advanced Energy and Women in Pensions Network for sponsoring the Denver event.

Rob Cohen, Chair and CEO of IMA, shares insights re Women on Boards

Robert L.Cohen

Chairman and CEO

of IMA Financial Group

Rob Cohen, Chairman and CEO of IMA Financial Group and board member extraordinaire (Colorado I Have A Dream Foundation; Metro Denver Economic Development Corporation; Colorado Succeeds; Visit Denver and; United States Olympic and Paralympic Committee) is always generous with his time.  And this time, was no different!  Lucy Strong conducted this interview with Rob.

Q1: What impact do you believe is created by having more women on boards?

A: Wow, that’s a great question.  I think you get a diversity of thought and perspective with more women on boards.  You’ll be able to look at all issues from more perspectives and get a more rounded point of view which leads to better decision-making.

Q2: What motivates you to champion the cause of getting more women in board seats?

A: At IMA Financial, we pick the best candidate regardless of gender.  The cream rises to the top.  But it took a conscious effort 7-10 years ago to say to our shareholders that we need board members that are more reflective of our employees. With both women and men on our board, we are better able to look at the issues from all perspectives and that allows us to better think strategically.

And, not always but often, women directors tend to have the ability to leave their egos at the door and think about what’s best for the company.

Q3: What role do men play in helping achieve board parity?

A: Men need to help recruit and identify candidates.  They need to allow those women the space to be active participants and if they don’t, they need to get out of the way.

Q4: You have abundant board experience.  What value have you gotten from serving on a board?

A: I love serving on boards! I learn from the other directors.  I get to see how similar problems [to those experienced in my business or to those I experience on other boards on which I serve] are dealt with and resolved.  I observe leadership in action and see how people can create influence.

Q5: What impact do you think COVID-19 has had on women’s quest for more board parity here in Colorado?

A: Maybe I’m a dreamer but I’d like to think it has no impact.  It is interesting that COVID happened at the same time as this push for social justice and more diversity which I hope has helped.  And I’d like to believe that the way people parent today wouldn’t impact asking a woman to join a board.  It wouldn’t change my desire to seek more women for board positions. 

Colorado is Accelerating the Pace of Women on Boards

New research finds that Colorado increases the proportion of board positions held by women to 19 percent ass of June 30, 2020 even in the face of the economic downturn. This is an increase of nearly five percentage points over the same research conducted two years ago.  

Over three-quarters of Colorado public companies now include one or more women on their board of directors, according to the most recent “Women on Colorado Boards: State of the State” analysis conducted by Boardbound by Women’s Leadership Foundation. This is a twenty-percentage point gain over the last two years and a reversal from the majority all-male boards seen as recently as 2014.

Read the full report here.

“For each of the last two years, Colorado public companies have added women to their boards at a pace faster than any of the previous 10 years,” said Jo Lynne Whiting, chair of Boardbound by Women’s Leadership Foundation. “We are thrilled to see the momentum growing because companies with women on their boards perform better. They have greater profitability, faster earnings growth and fewer financial restatements and controversies.”

 “What’s particularly heartening is that this progress has continued even in the first half of 2020 when the state was confronting the economic downturn triggered by the coronavirus pandemic,” Whiting continued. “During the 2008-09 Great Recession, companies with greater gender board diversity fared better before, during and after the economic crisis than those with all-male boards.  We encourage public companies to foster the growth of women on boards so Colorado companies experience similar results during this challenging economy.”

Other findings from the State of the State analysis show that while Colorado is making progress, the state still has room to improve. In 2020, Colorado companies that are part of the Russell 3000 lag one and half percentage points in board seats held by women, compared to the average for Russell 3000 companies nationwide. Moreover, Colorado-based companies on the Russell 3000 still have four percentage points more all-male boards than the national average.

“Another opportunity for improvement is building a robust and diverse pipeline of Colorado women executive officers,” Whiting added.  “As of June 30, 2020, just 16 percent of named executive officer positions were held by women. We hope this analysis, showing that companies with women on their boards perform better, encourages companies to open both more executive officer positions and more board positions to women.”

Read the Denver Business Journal article about the study.

Why Black Voices Matter in the Boardroom

We need more Black women on corporate and community boards of directors to ensure that organizations reflect the knowledge and experiences of all of us. Organizations with diverse boards perform better.

On August 27th at 5 pm, there was a virtual event to hear from Marilyn Taylor, Senator Angela Williams and May Snowden how they—and we—make a difference in ensuring Black voices inform and enrich the governance of the organizations shaping our opportunities.

Hosted by Micki Hackenberger

Boardbound by Women's Leadership Foundation has National Reach

We enjoyed the biannual meeting with our partner organizations through ION Women. All are committed to advancing women on boards. We shared best practices and planned how to strengthen efforts going forward.

ION Women’s search exchange helps us find great board candidates throughout the country for our Boardconnect program. So, if companies ask us for talented women candidates that meet their requirements, we have many sources to meet that demand.

Black Lives Matter

The tragic events of the past few weeks have laid bare the injustices that for far too long have equated to a dangerous reality for Black people in this country. They serve as an urgent reminder that justice does not look or feel the same for everyone and, until it does, we all have important work to do. Meaningful change must happen swiftly. 

We honor the tens of thousands of Americans and people all over the world who have stood up, marched for justice, and made their voices heard. We will continue to stand with you for as long as it takes to ensure that Black lives in America are cherished and protected, not only in dealings with the police, but in education, healthcare, housing--and in the leadership suites and boardrooms of corporations, community organizations and government commissions. Racism has no rightful place in our society and it must be eradicated in all its forms. 

While our work is centered on gender parity in the boardroom, Boardbound by Women’s Leadership Foundation promotes the values of diversity, equity and inclusion in all we do. We commit to doing the work to truly make these values a reality. We will be more mindful and intentional in our efforts. It is incumbent upon all of us to take this time to listen, learn and, most importantly, act to address the issues that exacerbate the inequalities that our Black brothers and sisters face.