From Bloomberg.com authored b:
“More than three out of four new male company directors are rookies, appointed without any prior corporate board experience, according to a new study of the world’s biggest publicly traded companies.
First-time female board members are less common. When a woman fills a board seat, there’s a 32 percent chance she’s already served as a director at another company, the study found. When a man does, there’s a 23 percent chance he’s already held a seat. The gap suggests that women disproportionately face the old Catch-22: To get chosen to be on a board, they already have to be on a board.
The problem, says John Roe, managing director of ISS Analytics, which conducted the study of 105,000 directorships, is that most board members get hired on the recommendation of existing directors, who are mostly male and whose networks tend to consist of people who look like themselves. A PwC study last year found that 87 percent of boards relied on member recommendations, contributing to what it called the “same old, same old” effect.”
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