If you are ready to take your career to the next level and pursue a board position, expanding your professional network is key to this goal.
50/50 Women on Boards is a strategic networking platform for women that acts as a catalyst for gaining peer connections, personal coaching from experienced corporate directors, and increasing visibility among industry leaders.
At 50/50 Women on Boards, the mission is clear: achieve gender parity on corporate boards with a focus on diversity in order to enhance company performance and open doors for all underrepresented groups. Women will hold 50% of corporate board seats with women of color holding at least 20%.
Each year, 50/50 Women on Boards host conversations on Board Diversity in various chapter cities. The Charlotte Conversation on Board Diversity event was held on November 19 at Quail Hollow Club where women networked to build meaningful relationships and open doors to new opportunities.
Additionally, the following directors served as mentors in a special, half-hour small group session.
Marcia Avedon, PhD
Director Acuity Brands (NYSE), Director Generac (NYSE), and Director Cornerstone Building Brands
Scott Tozier
Director International Paper (NYSE)
Carol Lowe
Director Arrow Electronics (NYSE), Director EMCOR Group (NYSE), and Director Novolex
Theresa Payton
CEO of Fortalice Solutions, Author, Director Paychex (NYSE), Director Sumitomo Mitsui Banking, Director UniCredit
Angela Yochem
Chief Human Resources Officer Krispy Kreme, Director Zurich Insurance
Nikki Fraser
Director Intelligent Bio Solutions (NASDAQ)
HeatherLynn Daly
Head of Corporate Development and M&A at UPS, Director Rithum
Mark Rosen
Managing Director Pearl Meyer, Director of Burroughs & Chapin
Glenn Sherrill
CEO and Chairman of Steelfab, former Board Chair of Federal Reserve Bank of Richmond Charlotte Branch, Director of Southwoods
Holly Paeper
Division President Commercial HVAC Americas Trane Technologies, Director LiquidStack
Kari Heerdt
Director National Dentex, Director Lighthouse
Cigdem Oktem
Regional Leader at EY Center for Board Matters
Career Mastered had the exclusive opportunity to interview Jennifer Hunter Sherrill, Senior Consulting Partner at Ernst & Young about her role with 50/50 Women on Boards and the impact The Charlotte Conversation on Board Diversity provides for women.
Q: What is your role with 50/50 Women on Boards and why do you believe it is important to engage with this organization?
A: Corporate diversity literature has roots in the passage of Title VII of the Civil Rights Act of 1964 and the Equal Employment Opportunity Act of 1972, which among other things, address the role of corporations in gender and racial discrimination in the workplace.
The U.S. Supreme Court’s diversity discourse has been integrated into corporate policies since the 1990s but accelerated in 2020 with the SEC recommending public companies to disclose the
number of women and under-represented minority groups on their board of directors. In August 2021, the SEC approved Nasdaq’s rule requiring companies listed on its exchange to disclose the diversity of their boards, making it the first-ever ESG disclosure mandate.
The President of 50/50 Women on Boards, Betsy Berkhemer-Credaire, also served as the President of the National Association of Women Business Owners-California (NAWBO-CA). Betsy led
NAWBO-CA’s successful campaign to secure passage of SB826, effective January 2019. It was the first and only law in the U.S. requiring every public company
in California to have at least three women board members before year-end 2021.
At 50/50, we believe advocacy and empowerment of female professionals is important in every state.
I became the Charlotte event chair in 2019 and was asked to lead the Carolinas 50/50 Women on Boards organization in early 2020.
What impact does the Charlotte Conversation on Board Diversity have on women’s ascension to boards?
A: The public company C-suite has traditionally been dominated by males. This has led to the board room facing similar diversity challenges.
For six years, our Carolinas 50/50 chapter has provided guidance, mentoring and connectivity to a group of about 200 female professionals who aspire for the coveted roles on public company boards.
At our event each fall, we promote interactions between public directors and those who aspire to join a public board. We take a little time out to
celebrate progress made, but the main intention is to offer practical tips to aspiring directors on how to get on your first public board.
Those suggestions often include:
- Seeking new experiences at their current employer that boards are looking for,
- Learning how to self-promote their accomplishments and incremental value to a corporate board,
- Building their network with like-minded local executives and public and large private company directors, and
- Finding sources of information to be an effective director when the opportunity arises.
The percentage of female directors on Russell 3000 boards has increased from 17% in 2018 to 28%
in 2023. In 2023, 9.1% of board-chair roles were held by women, which is more than double the percentage from 2019. The progress in North and South Carolina is similar.
Q: Why is it important for women to be on boards?
A: Diverse boards typically reduce the risk of groupthink and make better decisions by considering a wider range of perspectives.
Corporate directors find themselves in intellectually stimulating and lucrative second careers after retirement
Q: The 50/50 Women on Boards Gender Diversity Index™ Annual Report was recently released. For 2024, the report showed the percentage of women on boards increased by 14 points from 2017 to 2023. However, since 2023, year-over-year growth has slowed to 1%, indicating that gender parity on corporate boards is still 20 years away, projected for 2044. Despite this, Q2 2024 marks a key milestone with women holding 30% of board seats. What more do you think can be accomplished to provide quicker access for women and gender parity in the boardroom?
A: While there was a burst of energy around the movement to greater diversity on public boards, the private company boards have not had the same results. Furthermore, the progress has slowed on
public boards. In my opinion, women are likely going to have to build their confidence, knowledge base, and corporate experience to assertively break down the walls themselves.
Q: How can women become involved with 50/50 Women on Boards in Charlotte?
A: If you’d like to get involved, you can reach out to me, Jennifer Hunter Sherrill on LinkedIn.
___________________________________________________________________________
50/50 Women on Boards is empowering women for corporate board service through workshops, networking events, and advocacy, supported by key corporate partners. With chapters in 20+ cities across the U.S., Mexico, Canada, the U.K., Japan, and East Africa, and upcoming expansions in South America and Saudi Arabia, the movement is making waves globally. To learn more and get involved logon to 5050wob.com
