Korn Ferry Analysis of Largest U.S. Companies Shows Percentage of Women in Most C-Suite Roles Dramatically Lagging Male Counterparts

-Data Reveals Percentages by Title and Industry

-Percentage of Women CEOs Flat from 2015

LOS ANGELES–(BUSINESS WIRE)–A new analysis of the top 1,000 U.S. companies by revenue finds the
percentage of women in most C-Suite positions is dramatically lower than
their male counterparts. The study, by Korn
Ferry (NYSE:KFY), the preeminent global people and organizational
advisory firm, was conducted in June 2016 and examines the percentage of
women by title and by industry.

The analysis found that across the most prominent C-Suite titles (CEO,
CFO, CIO, CMO, CHRO) and several industries (consumer, energy,
financial, life sciences, industrial, technology) an average of less
than one quarter (24 percent) of the top leaders are women.

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here to view full graphic.

Female Representation by C-Suite Title

CEO (Chief Executive Officer)

The study found that across all of the C-Suite positions, the most
senior post is held by the smallest percentage of women, with only 5
percent serving as CEO. This percentage remains flat from 2015.

Less than 1 percent of CEOs in the life sciences industry are
women. (This excludes some healthcare providers and hospital systems,
which are often non-profit organizations that may not publicly disclose
financial information). The highest percentage of female CEOs are in the
consumer industry (9 percent), followed by energy (6 percent), financial
and technology (both 5 percent), industrial (4 percent) and life
sciences (less than 1 percent).

“Study after study shows that diverse senior teams provide better
corporate results,” said Korn Ferry Managing Principal Peggy
Hazard. “Having more women at the top is a priority for our clients.
However, the needle is not moving as quickly as any of us would like to
see.”

CFO (Chief Financial Officer)

Just 12 percent of CFOs across industries are women. The industry with
the most is consumer at 15 percent. Those industries tied for having the
least female CFOs are financial and life sciences at 9 percent.

“While the percentage of female CFOs is still small and more progress is
needed, fortunately, interest in promoting and recruiting women into the
role of CFO continues to rise,” said Bryan
Proctor, Korn Ferry Global Financial Officer Practice Leader. “A
common barrier of female advancement to the top spot continues to be a
lack of critical opportunities to demonstrate leadership, such as
international assignments and operational roles. While the organization
is responsible for offering these career-advancing assignments and
opportunities to high-potential females, we have found that qualified
women who proactively seek out these roles and experiences are
increasingly being recognized and rewarded.”

CIO (Chief Information Officer)

The CIO role fares only a bit better than the CFO role, with 19 percent
of women holding the CIO seat across all industries.

“Having gender equality in the CIO role is already top of mind for CEOs
and Boards. We expect this focus to continue for years to come as the
CIO creates greater strategic impact across organizations,” said Craig
Stephenson, Korn Ferry Managing Director, North America CIO
Practice. “We are working with clients to change their view from
focusing on just the CIO, to the entire technology function to
facilitate broader cultural evolution. We believe this achieves a higher
percentage of women across the function and an accepting culture to
ensure organizations retain and attract the best talent. There is a
significant opportunity for women who are successful technology leaders
to create even greater impact in an organization, in the role of CIO and
in the board room.”

CMO (Chief Marketing Officer)

While the percentages are higher than the CEO, CFO and CIO, less than a
third (29 percent) of CMOs are women.

“The marketing field is facing a conundrum. In more junior positions,
there is a level playing field between men and women, but the
percentages of women plummet at the highest levels in the function,”
said Caren
Fleit, Korn Ferry Senior Client Partner and Leader, Global Marketing
Center of Expertise. “Organizations need to create an environment to not
only attract, but retain these high-potential female professionals. That
includes mentorship programs, flexible working environments and clear
paths for advancement.”

CHRO (Chief Human Resources Officer)

The CHRO role is the only C-Suite role where there is gender parity,
with 55 percent of CHROs across industries being women.

“In our research, we find that women rank higher on key competencies
needed in the CHRO role such as collaboration and negotiation skills,
the ability to balance multiple constituencies and an appreciation for
the dynamics of the overall business,” said Joseph
McCabe, Vice Chairman in Korn Ferry’s Global Human Resources Center
of Expertise. “Interestingly other Korn Ferry research shows a distinct
correlation between CEO and CHRO competencies, but women are still not
making it to the very top spot at the rate they should.”

The Mix by Industry

When considering the percentage of C-Suite women by industry, the
financial sector comes in the highest, at 28 percent, followed by
technology (25 percent), energy (24 percent) consumer and life sciences
(tied at 23 percent) and industrial (22 percent).

“In every industry we analyzed, there’s a tremendous need for
improvement to bring more women to the C-Suite,” said Hazard. “This is a
joint responsibility of the women to seek out experiences and
development that can help them lead and succeed, and for organizations
to create an environment where women feel empowered to progress in their
careers at all levels.”

About Korn Ferry

Korn Ferry is the preeminent global people and organizational advisory
firm. We help leaders, organizations, and societies succeed by releasing
the full power and potential of people. Our nearly 7,000 colleagues
deliver services through our Executive Search, Hay Group and Futurestep
divisions. Visit kornferry.com
for more information.

Contacts

Korn Ferry
Tracy Kurschner, 612.309.3957
Tracy.Kurschner@kornferry.com