Gender parity in all Russell 3000 company boardrooms could happen by 2030, according to the Q4 2019 Equilar Gender Diversity index. The index reflects quarterly changes on Russell 3000 boards based on 8-K filings.
Equilar and its Diversity Network partners found increased percentages of women on Russell 3000 company boards for nine consecutive quarters, with the most significant growth in 2019, where it reached 21.5% in the fourth quarter. When Equilar began tracking the GDI in January 2017, only 15% of board seats in the Russell 3000 were held by women.
One year ago, 15.8% of companies had no female directors; that figure is now 7.7%, and 114 companies have boards with between 40% and 50% women.
Some of the pressure comes from investors updating their voting policies on board gender diversity expectations, Equilar said. Following California's 2018 law mandating women on corporate boards, the percentage is now 23.2%, according to the GDI. Massachusetts is now considering a similar law.