Startups’ problem with female board members
On Friday, Twitter announced that it was adding Marjorie Scardino to its board of directors. Scardino is the former CEO of Pearson, and The Economist Group, as well as a former Nokia director. She is Twitter’s first female board member.
Reuters’ Sarah McBride and Poornima Gupta take a broader look at the lack of gender diversity on startups’ boards:
Male-heavy boards dominate in the start-up mecca of Silicon Valley, which prides itself on progressive thinking and putting talent first. A Reuters survey of the 10 top venture-backed start-ups, as measured by venture funds raised, shows that six do not have any women on the board, including Pinterest. And none has more than one…The gender imbalance has been the norm for years despite some recent signs of change. Google, Facebook and Twitter all went public without a woman on the board. They are more diverse now… Big, established companies, by contrast, frequently have two or more female directors, based on the 10 largest U.S. tech companies by market value. All of the top 20 have at least one.
Reuters charts the dearth of female directors at venture-funded startups compared top public tech companies. Even as startups lag public companies, women still make up just 21% of the largest public tech companies’ boards: