Ten years is a long time to wait for significant change in the corporate world, and women still are waiting, a report indicates.
Fewer than 15 percent of directors at the Chicago area’s major public companies are women, up from about 10 percent a decade ago.
The number of female executive officers has more than doubled in the last decade, to 74. But the number has declined since 2005 and currently represents about 14 percent.
The percentage of top earners who are women is 8.7 percent, up 3 percentage points since last year but lower than in 2005.
In short, women’s progress in attaining senior roles is slow and uneven, according to the 10th annual study by The Chicago Network, an invitation-only group of leading professional women.
“When I look at the results we’ve witnessed over the last decade, they’re definitely disappointing,” said Donni Case, who chaired the 2007 study. “The data is an indicator of just how daunting it’s been for women to gain leadership roles.
There is one obvious conclusion: Chicago companies are still not drawing from the full talent pool.”
The report, posted at www.thechicagonetwork.org, tracks women’s strides at the area’s 50 biggest public companies, based on revenues. This year’s report included one private company that publishes comparable financial data, Solo Cup Co.
Women fared better in the non-profit world, an analysis of 30 leading local non-profits indicated. For instance, women hold nearly half of top executive positions at arts, culture and humanities organizations and 21 percent of the board seats.
But in the corporate world, women remain well below the 40 percent benchmark for senior leadership that women’s advocates say is one of the hallmarks of top-performing companies.
“One of the reasons we haven’t seen more progress is that women need the opportunity to hold operating positions, which makes them more attractive for board seats,” said Pamela Forbes Lieberman, the network’s chairwoman and former president and chief executive of True Value Co.
Other steps include setting the right tone at the top, educating management, and measuring and reporting women’s progress, she said.
The report highlighted women’s initiatives at McDonald’s Corp., Deloitte & Touche and the non-profit Chicago Community Trust for their effectiveness.
It also rated the best and worst performers among the 50 public companies in women’s representation. The top five were Kraft Foods Inc., Laidlaw International Inc., Sara Lee Corp., Sears Holdings Corp. and Hewitt Associates Inc. At Kraft and Laidlaw, women comprise 40 percent of executive officers; and at Hewitt, Sara Lee and Kraft, one-third of directors are women.
Three companies have no female directors, executive officers or top earners, according to the report: CNA Financial Corp., Nalco Holding Co. and Packaging Corp. of America. The report defines executive officers as the senior leaders listed in the company’s proxy filing.
A CNA spokeswoman said the company employs 46 women at the level of vice president or higher, two more than last year.
Nalco is searching for a new chief executive. “Our hope is, after that the board will take a look at its membership and consider whether it needs to be expanded and whether we have the opportunity to name a woman,” said spokesman Charlie Pajor.
He added that Nalco’s vice presidents include several women, among them Group Vice President Mary Kay Kaufmann, president of a unit within the company’s biggest division.
Packaging Corp. did not return a call seeking comment.
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berose@tribune.com
