Number of Women Directors and Executive Officers in MA Companies Tumble.

The number of women directors and executive officers in Massachusetts' largest public companies fell in 2008, according to a recent report published by The Boston Club. In addition, the number of companies with no women in their boardroom or executive suites increased significantly. The number and percentage of women executive officers and the percentage of companies with a woman among their most highly compensated officers fell dramatically, to their lowest point since The Boston Club began tracking the data in 2003. Fewer women executive officers mean fewer women in the pipeline for board appointments, the women's business organization asserts. The report, "Succession Planning and Diversity: A Winning Combination in Troubled Times: The 2008 Census of Women Directors and Executive Officers of Massachusetts Public Companies is a joint project of The Boston Club, Bentley University and Mercer (see also The Boston Club).

"This news is very disturbing," said Kathleen Stone, president of The Boston Club. The situation poses a huge challenge to the advancement of women to positions of corporate leadership, but also presents an opportunity. It's time for companies that have not made progress to follow the lead of other companies and enhance their own boardrooms and executive suites with gender diversity."

The change in composition of the 100 largest companies headquartered in Massachusetts has contributed to the low numbers. Since 2005, 26 companies dropped from the list because of merger or acquisition, decline in revenue, or relocation -- eleven of them in this past year alone. Based solely on the changed composition since last year, this year's Census reports a net loss of eight women directors, 17 women executive officers and six top compensated women. Because the number of women holding leadership positions is small, any loss in absolute numbers has an exponential impact on the percentages.

The Boston Club suggests that another reason for the low numbers of women in leadership positions is the absence of thoughtful succession planning by the boards of companies on the ...