The report

Changes in Women Corporate Directors from 2009 to 2010

Missed Opportunities

A total of 72 new directors were added to the boards of Minnesota’s largest 100 publicly held companies in 2010. Only 14 of those 72 board seats went to women. Twelve companies added a total of 14 new women directors. These 14 new women directors represent only 19.4 percent of the new directors. This represents multiple missed opportunities to diversify boards.

Of Minnesota’s largest 100 publicly held companies, only eight companies achieved a net increase of one woman director in 2010. Four companies had a net decrease of one woman director. Eighty-eight companies experienced no change in the total number of women corporate directors.

Comparisons with National Data

Minnesota’s data on women directors are comparable to the national trends. The percentage of board seats held by women directors in Minnesota (14.3 percent) falls in the upper-middle range of the national data reported by ION, a national nonprofi t organization dedicated to advancing women in corporate leadership. However, Minnesota’s Fortune® 500 companies out-perform Fortune® 500 companies across the country.

  • In the 14 regions reported in the national ION data, women hold between 8.3 percent and 18.4 percent of the available board seats in all companies included in the research. Minnesota weighs in with 14.3 percent.
  • In Fortune® 500 companies nationwide, women hold 15.7 percent of the available board seats. Minnesota’s Fortune® 500 companies have women directors in 20.1 percent of the available board seats.
  • In the 14 regions reported in the national ION data, the percentage of companies with no women corporate directors ranges from 8 percent to 50.6 percent. Twenty-eight percent of Minnesota’s 100 largest publicly held companies have no women corporate directors; that fi gure is 1 percentage point higher than the percentage of companies with no women corporate directors in 2009.

Minnesota companies that added women directors in 2010

  • ALLETE, Inc.
  • Alliant Techsystems, Inc. (added two women directors)
  • Best Buy Co., Inc.
  • Digital River, Inc.
  • Ecolab, Inc.
  • Hormel Foods Corp.
  • Hutchinson Technology, Inc.
  • MTS Systems Corp. (added two women directors)
  • MoneyGram International, Inc.
  • Piper Jaffray Companies
  • Xata Corp.
  • Xcel Energy, Inc.

Companies with 3 or
more women directors

  • ALLETE, Inc.
  • General Mills, Inc.
  • Hormel Foods Corp.
  • Piper Jaffray Companies
  • MTS Systems Corp.
  • Target Corp.

Companies with a 2010 net increase in women directors

  • ALLETE, Inc.
  • Best Buy Co., Inc.
  • Digital River, Inc.
  • Hutchinson Technology, Inc.
  • MTS Systems Corp.
  • MoneyGram International, Inc.
  • Piper Jaffray Companies
  • Xata Corp.

Companies with a 2010 net decrease in women directors

  • Select Comfort Corp.
  • SUPERVALU, INC.
  • The Valspar Corporation
  • Vascular Solutions, Inc
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