Publix, Target, CVS only food retailers among 91 Fortune 500 firms where women account for at least 25% of board seats, finds 2013 Catalyst Census; Supervalu, Target, Dollar General, Safeway have women in at least 25% of executive officer posts
December 13, 2013
(Supermarket News )
– Publix Super Markets, Target Corp. and CVS Caremark were the only food retailers singled out in a report Tuesday for their female board representation.
The 2013 Catalyst Census found that those three chains were among 91 companies on the Fortune 500 list where women accounted for at least 25% of board seats. Three of Publix’s nine board seats are held by women, as are four of Target’s 12 seats, and three of CVS Caremark’s 11 seats.
Supervalu, Susser Holdings and Nash Finch appeared on the list of those Fortune 500 companies with no female directors.
Supervalu, however, was cited as among the 97 companies in the Fortune 500 that had at least 25% women executive officers, with four of 10 officers being women. Other food retailers with at least 25% women executive officers included Target (five of 12 officers), Dollar General (two of eight officers), and Safeway (three of 12 officers).
“It’s hard to believe that at the end of 2013 we still see more than a few all-male corporate boards and leadership teams,” said Ilene H. Lang, president and chief executive officer, Catalyst, a nonprofit organization that describes its mission as seeking to advance women and business. “Diverse business leadership and governance are correlated with stronger business performance, employee engagement, and innovation. Shareholders beware: A company with no women at the top is missing one of the biggest opportunities in the marketplace today.”
Overall, the report found that women held 16.9% of corporate board seats in 2013, indicating “no significant year-over-year uptick for the 8th straight year,” according to Calayst. In addition, 14.6% of executive officer positions were held by women — the fourth consecutive year of no year-over-year growth.