MAYOR NUTTER SIGNS COUNCILWOMAN BLONDELL REYNOLDS BROWN’S “WOMEN ON CORPORATE BOARDS” BILL-# 130457

In Blondell Reynolds Brown by admin

FOR IMMEDIATE RELEASE

(PHILADELPHIA) September 25, 2013 –Today, Mayor Michael A. Nutter signed Councilwoman Blondell Reynolds Brown’s “Women on Corporate Boards” Bill.  The legislation requires contractors seeking to do business with the City of Philadelphia to disclose certain demographic information including gender, race and geographic data of those serving as board members and executive staff. “We cannot manage what we cannot measure.  This bill will offer us the transparency needed to determine if a contractor values diversity in the workplace and in leadership positions” said Councilwoman Reynolds Brown.  “It requires prospective contractors to put the gender of their leadership in writing, which tells them up front that gender diversity matters. We want to encourage companies to increase the number of women seated at those tables where major decisions are made, because we know that if women are not at the table, issues that are important to us end up on the menu.” “Philadelphia has a diverse and talented population, and it is important that we have these people represented on boards in our city,” said Mayor Michael A. Nutter. “I want to thank Councilwoman Reynolds Brown for her advocacy on the issue of women and minorities serving in greater numbers in leadership positions on corporate boards.” The bill was a recommendation from a 2013 report produced and sponsored by Councilwoman Reynolds Brown and reported out of the City Council Committee on Commerce and Economic Development.  The report, “Women on Corporate Boards:  We Can Do Better!” detailed the following:

  • Women occupy 11 percent of board seats in the top 100 public companies in the region
  • Women of Color represent less than one percent of board seats in the region
  • Women represent 11 percent of the 36 new directors at 45 of the largest public companies in the region
  • 41 percent of boards in Philadelphia have zero women
  • In 1976 women occupied five percent of Fortune 500 board seats
  • By 2011, the number has risen to 16 percent

For additional information please contact the Chief of Staff, David Forde at (215) 686-3438

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