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Women Executive Officers (Section 16b)

Women Executive Officers by Positions

  • Women hold 15 percent (118) of the 775 available positions as Section 16b executive officers in Minnesota’s 100 largest publicly held companies, which have revenues ranging from $28 million to $82 billion.
    • In the 17 Minnesota Fortune 500 companies, women hold 15 percent (33) of the 217 executive officer positions.

    • In the 11 Minnesota Fortune 501–1000 companies, women hold 12 percent (12) of the 101 executive officer positions.

    • In the remaining 72 companies, women hold 16 percent (73) of the 457 executive officer positions.

Women Executive Officers by Company

  • Sixty-eight of Minnesota’s 100 largest publicly held companies have at least one woman executive officer.
  • The percentage of executive officer positions held by women across these companies is small, usually less than 25 percent.
  • Thirty-seven of Minnesota’s 100 largest publicly held companies have only one woman executive officer.
  • Minnesota companies reporting smaller revenues are more likely to have no women executive officers.
    • Sixteen of Minnesota’s 17 Fortune 500 companies have women executive officers: 18 percent (three) of the companies have 25 percent or more women executive officers, and 76 percent (13) of the companies have less than 25 percent.
    • Eight of the 11 Minnesota Fortune 501–1000 companies have women executive officers: 9 percent (one) of the companies have 25 percent or more women executive officers, and 64 percent (seven) of the companies have less than 25 percent.
    • Forty-four of the 72 remaining companies have women executive officers: 29 percent (21) of the companies have 25 percent or more women executive officers, and 32 percent (23) of the companies have less than 25 percent.

Changes from 2008 to 2009

A decrease in the number of Section 16b women executive officers has occurred across the largest 100 publicly held companies in Minnesota over the past year. In 2008, 75 of Minnesota’s top 100 companies had at least one woman executive officer. One year later, in 2009, only 68 companies reported having at least one woman executive officer.

Minnesota companies reporting smaller revenues are more likely to report no women executive officers. Although some Minnesota Census companies have added women executives to their ranks since 2008, more companies have decreased the number of women executives in their ranks across all revenue categories.

Women Executive Officers by Company Size

Only nine companies increased their number of Section 16b women executive officers:

  • Deluxe Corporation and MoneyGram International, Inc., increased their women executives from three to four.
  • ADC Telecommunications, Inc., and The Travelers Companies, Inc., each increased from one woman executive to two.
  • Communications Systems, Inc., FICO, SoftBrands, Inc., AT S Medical, Inc., and Vascular Solutions, Inc., increased from no women executive officers to one.

Twenty-four companies decreased their number of women executive officers — and 11 of those 24 now have no women executive officers among their ranks. In all, 32 of Minnesota’s top 100 publicly held companies rely upon a solely male leadership team in the executive suite.

Comparisons with National Data

Women hold 15 percent of the executive officer positions in Minnesota’s 100 largest publicly held companies. That places Minnesota ahead of the pack. Nationally, percentages range
from 7 percent to 15 percent of executive officer positions that are held by women, according to ION Status Report of Women Directors and Executive Officers of Public Companies in Twelve Regions of the United States, published in March 2009. The Chicago percentage (14 percent) represents a pool of 50 companies, compared with Minnesota’s 100.

Data Tables

  1. Number of Women Executive Officers by Company
  2. Roster of Women Executive Officers in Minnesota’s 100 Largest Public Companies

View tables (PDF) »

 

THE 2009 MINNESOTA CENSUS OF WOMEN IN CORPORATE LEADERSHIP