Women hold just a small number of corporate board seats.
In 2015, the 2020 Women on Boards Gender Diversity Index of Fortune 1000 companies showed that 17.9% of corporate directors were women. That number drops to 10% in biotech companies. These numbers are disproportional when you consider that women comprise about half of the total U.S. workforce, hold half of all management positions, and are responsible for almost 80% of all consumer spending.
WIB has reviewed the overwhelming evidence from various sources that state that companies with more diversity at the highest levels see a higher return on investment overall. (Catalyst report “Why Diversity Matters” )
Women In Bio is pleased to launch our Boardroom Ready Program, aimed to help executive women achieve their goal of corporate board service. Inspired by Biogen’s successful Raising the Bar Program, WIB’s Boardroom Ready Program seeks to prepare exceptionally qualified WIB members for board service by providing a board certification training, and assistance seeking public and private corporate board opportunities.
Board Certification Course
Boardroom Ready Candidates will undergo rigorous board training with WIB’s training partner George Washington University’s Executive Education School. A five-day life-science focused board training course (split into two 2.5 day modules) will teach our candidates the commitments, duties, operation, and responsibilities of participating on public and private company boards. In particular, our board candidates will explore topics such as financial literacy, board governance, financial strategy, crisis management, and investor relations.
While the board certification course is an excellent first step, the ultimate goal of our program is to place qualified women on boards. WIB has determined that the best way to accomplish this is to conduct outreach efforts to match our course graduates with available board seats as well as holding networking events for our graduates. Women In Bio is working with champions of diversity such as Biogen, MassBio’s corporate and individual members, and LifeSci Advisors to promote our candidates for available board positions. In addition, WIB and other partners intend to hold multiple receptions with a targeted mix of investors, current board members, and others who influence the decision-making process for companies looking for new board members.
Application are due by July 1st. For more information visit http://www.womeninbio.org/executives/board-ready