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Progress Report: Women on Corporate Boards 2019 to 2024

Women on Corporate Boards Act

The Women on Corporate Boards Act was passed in the 2020 Legislative Session and took effect January 2022. The law takes a “comply or explain” approach, meaning a company subject to compliance must have a “gender-diverse board” (25% of board members must self-identify as women) or provide shareholders a “board diversity discussion and analysis.” In 2019, the Washington StateWomen's Commission (WSWC) conducted research to assess the board makeup of 73 publicly-traded companies in Washington. The following was used to help craft and garner support for HB 6037.  

Women on Boards in 2019

By statute the Women’s Commission is charged with identifying strategies to increase the number of women on corporate boards and make recommendations to the legislature. Our economic opportunity committee and staff conducted research on publicly traded companies with headquarters in Washington. View the Women’s Commission Research on all 73 Publicly-Traded Companies in Washington, 2019. The data shows:

  • 13 of 73 (17.8%) corporations have 0 women board directors
  • 30 of 73 (41%) corporations have less than 20% women board directors
  • 4 of 73 (5.4%) corporations have a woman CEO

In addition, we collected data on how many women are in executive leadership. Nominating committees often seek candidates with corporate executive experience. Although some of Washington’s larger corporations have good gender diversity on corporate boards, they have very few women in executive management. Increasing the number of women in executive management will help increase the number of women who would be considered for a board position.

At our October 15, 2019 plenary meeting, we invited several experts to discuss strategies, including pending legislation (SB 5142), to increase the number of women on corporate boards. You may view the TVW recording at minute 36.40 here. In addition, you may view the Senate Law and Justice Committee hearing on women on boards here.

2020 Women on Boards is a national campaign to increase the percentage of women on U.S. company boards to 20% or greater by the year 2020. The following link is to the 2020 Gender Diversity Directory, a database of public and private companies in the nation, categorized based on gender composition of their boards.  View the 2020 Gender Diversity Directory. The 2020 Gender Diversity Directory is based on the Russell 3000 Index, the 3000 largest U.S.-traded stocks.

The following table shows the largest public companies in Washington State, their board composition by gender in 2019, and their diversity statement.

Company
State of Incorporation
Headquarters		 Board Composition Company Diversity Statement
Amazon.com Inc1
DE
Seattle, WA		 9 total members:
3 are women		 Amazon is an Equal Opportunity-Affirmative Action Employer — Minority / Female / Disability / Veteran / Gender Identity / Sexual Orientation.
Costco Wholesale Corp2
WA
Issaquah, WA		 11 total members:
2 are women		 Costco has a diverse workforce. Our mission is to foster a climate of inclusion to take advantage of that diversity.
Microsoft Corp3
WA
Redmond, WA		 14 total members:
4 are women		 We strive to create an environment that helps Microsoft capitalize on the diversity of our people and the inclusion of ideas and solutions to meet the needs of our increasingly global and diverse customer base.
T-Mobile US Inc4
DE
Bellevue, WA		 12 total members:
1 is a woman		 Diversity fuels the Un-carrier spirit. Our commitment to inclusion across race, gender, age, religion, identity, and experience drives us forward every day.
Starbucks Corp5
WA
Seattle, WA		 10 total members:
4 are women		 Embracing diversity only enhances our work culture, it also drives our business success. It is the inclusion of these diverse experiences and perspectives that create a culture of empowerment, one that fosters innovation, economic growth and new ideas
Paccar Inc6
DE
Bellevue, WA		 11 total members:
2 are women		 PACCAR will not discriminate against individuals on the basis of race, color, religion, national origin, gender, gender identity or expression, sexual orientation, age, disability, veteran or other legally protected status.
Nordstrom Inc7
WA
Seattle, WA		 11 total members:
3 are women		 At Nordstrom, we value the richness that diversity brings to our company—it makes us better and the communities we serve stronger. We're deeply committed to cultivating an environment where the contributions of every employee, customer and vendor are respected and appreciated.
Expedia Group Inc8 9
WA
Bellevue, WA		 15 total members:
4 are women		 Expedia Group and all its brands are proudly equal opportunity employers. All are welcome.
Alaska Air Group Inc10
DE
SeaTac, WA		 11 total members:
5 are women		 There is strength in diversity. It fuels innovation, sparks creativity, and cultivates an atmosphere of continuous learning and improvement. We foster an inclusive environment that recognizes, respects and appreciates the different backgrounds, perspectives.
Weyerhaeuser Co11
WA
Seattle, WA		 11 total members:
3 are women		 We strive to create a diverse, inclusive work environment where all employees feel valued, have the opportunity to grow and are driven to succeed. We believe this is both the right thing to do and good for business...
Expeditors International of Washington Inc12
WA
Seattle, WA		 10 total members:
2 are women		 Not located
Fortive Corp13
DE
Everett, WA		 7 total members:
1 is a woman		 We believe in the power of great people working together to innovate and solve problems no one could solve alone. We seek out and include diverse voices, perspectives and experiences because we know we’re stronger when we do.
TruBlue Inc14
WA
Tacoma, WA		 10 total members:
4 are women		 The success of our company is a reflection of the quality and capability of our people. TrueBlue is committed to providing a supportive work environment in which all individuals realize their maximum potential, regardless of their differences.
F5 Networks Inc15
WA
Seattle, WA		 10 total members:
2 are women		 Our differences—when embraced with humility and respect—drive smarter decisions, increased innovation, stronger performance, and a culture where everyone can be themselves.
Itron Inc(16)
WA
Liberty Lake, WA		 9 total members:
2 are women		 Itron is proud of its equal employment opportunity and affirmative action programs, which are endorsed by the corporation's Chief Executive Officer and implemented by our Senior VP of Human Resources. Itron values diversity and encourages an inclusive work environment...
Esterline Technologies Corp(17)
DE
Bellevue, WA		 9 total members:
2 are women		 Esterline is proud to be an equal opportunity workplace and is an affirmative action employer. We are committed to equal employment opportunity regardless of age, race, color, religion, sex, sexual orientation, gender identity or expression, medical condition...
Clearwater Paper Corp(18)
DE
Spokane, WA		 6 total members:
1 is a woman		 We promote inclusion and diversity.
Avista Corp(19)
WA
Spokane, WA		 10 total members:
4 are women		 Avista is committed to the goal of Equal Opportunity Employment and Affirmative Action. All qualified applicants will be considered regardless of race, color, religion, national origin, sex, gender identity, sexual orientation, marital status, age, sensory, mental or physical disability...
Zillow Group(20)
WA
Seattle, WA		 9 total members:
2 are women		 We’re at our best as a company when we have a diverse set of backgrounds and experiences at the table. We’re committed to making Zillow Group a place where everyone feels they can be themselves, contribute in a meaningful way and have the opportunity to succeed...
Zumiez Inc(21)
WA
Lynnwood, WA		 9 total members:
2 are women		 Not located

Women on Boards in 2024

To ensure compliance with the Women on Corporate Boards act, the Washington State Women’s Commission (WSWC) conducted research on the top publicly traded companies headquartered in Washington 5 years later. These findings show steady progress in the number of women on corporate boards in 2024. In 2019, 58% of companies were compliant with the 25% metric, while in 2024, 78% of companies met the metric.

Nine of the 73 publicly traded companies examined in 2019 were either acquired by another company, went private, or did not have published board information. These companies were excluded from the 2024 study.

C-suite Gender Diversity

WSWC also reviewed the gender diversity of the C-suites for each company. Research showed that of all the Chief Executive Officers (CEO) for the 64 companies included in the study, only 3 were women. Women were also underrepresented among the Chief Financial Officers (CFO), holding only 25% of these positions. Contrastingly, research showed women make up 80% of the Chief HR Officers (CHRO). This data points to issues regarding occupational segregation and equitable compensation as CFOs make an average of $100,000 more than CHROs in Washington (salary.com). 

WSWC's 2024 C-suite and Board research was conducted by Spring 2024 intern Olive Effird.

ABOUT THE WASHINGTON STATE WOMEN’S COMMISSION

The Washington State Women’s Commission, created by the Washington State Legislature in 2018, aims to improve the well-being of women by identifying and developing policies to remove systemic barriers and address critical issues that disproportionately impact women, including childcare access and affordability, domestic and gender-based violence, equal pay, and intersectional inequities.

Learn more at wswc.wa.gov.