A 2011 national study conducted in part by the Lipscomb University College of Business reveals limited presence of women in corporate leadership nationwide, proving that a gender gap still exists in the nation's executive suites and boardrooms.

In support of closing this gender gap, the Lipscomb College of Business' Dean Institute for Corporate Governance and Integrity partnered with local Nashville women's networking organization, CABLE, to host the 2011 Board Walk of Fame event to recognize Tennessee's female CEO and board members.

The 32 women and 11 companies honored at the Board Walk of Fame breakfast were identified as part of the 2010 "Women in Corporate Leadership" study, sponsored by Nashville CABLE and led by Lipscomb business professor Laura Williams.

The "Women in Corporate Leadership" study found that more than 91% of the 617 corporate directors in Tennessee were men at a time when women made up 48.0% of the Tennessee work force. Out of the 72 public corporations, 46% had no women directors at all.

These results were later used by the InterOrganization Network (ION) in its seventh annual benchmarking study "How Change Happens," which found that Tennessee ranks last nationwide in the percentage of public company board seats held by women.

To call attention to this gender gap, Lipscomb’s business college and institute installed the Virtual Board Walk of Fame, a permanent interactive digital display housed in the Swang Business Center, to honor Tennessee's female CEOs and directors as well as companies within the state that include women directors in 2011 and the future.

The Virtual Board Walk of Fame serves as a tangible recognition of the role gender diversity plays in Tennessee's economic success by listing information on female Tennesseans serving on boards throughout the nation, Tennessee-based companies that have installed women as directors and female CEOs of the state's public companies as of 2009 Securities and Exchange Commission (SEC) filings.

The Board Walk of Fame will be updated continuously as Lipscomb documents progress on eliminating the gender gap through the ongoing "Women in Corporate Leadership" study.

"At Lipscomb, ethical and equal business practices are not something that we view as optional," said Turney Stevens, dean of the College of Business, executive director of the Dean Institute and member of the CABLE Advisory Board.

"We wanted to establish a bricks-and-mortar declaration to any businessperson, student or citizen who comes to our college that eradicating gender barriers in Tennessee is an important goal, not just because it's fair, but because it makes sense for the bottom line. Our hope is that those who see this informational display will be inspired to help move Tennessee from last to first in gender equality in our nation."

The ION study captured information on women directors and executive officers of public companies, based on FYE 2009 SEC filings in 14 regions of the United States. Information in each region was provided by that area's ION member organization, which in Nashville is CABLE.

The Tennessee figures in all categories compare unfavorably to other states and metro areas surveyed. For example:

• With only 8.3 percent of the 617 board seats on Tennessee public companies held by women, our state ranked at the bottom of the "Percent of Board Seats Held by Women" category among ION affiliate regions.
  
• Only 12.7 percent of the 71 board seats for Fortune 500 companies were held by women in Tennessee, making it next to last by this measure.
  
• Only 1.4 percent of Tennessee's companies claimed 25% or more women directors, ranking next to last in this category as well.

Beginning five years ago, Lipscomb's business college partnered with CABLE to conduct the biennial census of SEC filings in Tennessee. The CABLE census is the only research of its kind in Tennessee.

All three studies conducted since 2006 show that women remain underrepresented in Tennessee's head offices.

To support CABLE's goal to hold up the state's more gender-diverse companies as examples to their peers, the Virtual Board Walk of Fame display is available for public viewing in the Swang Business Center during normal business hours. Those who wish to show their support of breaking the gender barriers in Tennessee can visit www.adque.com/LUWOCB to sign the digital guestbook.

About the Dean Institute for Corporate Governance and Integrity

The Dean Institute for Corporate Governance and Integrity at Lipscomb University is a national forum for integrating best practices in governance with integrity and faith to benefit public and private company executives, board members and other top-tier corporate leaders. The institute seeks to address the root issues at play, namely, how character and integrity inform the decisions, actions, culture and performance of corporations.

The institute carries out several programs throughout the year including awarding the Dean Institute Award for Corporate Governance and Integrity and bringing national and international business leaders to campus to discuss ethical business practices with students and local businesspeople. Institute executive director Stevens was named a 2009’s Most Influential Person in Business Ethics by the Ethisphere Institute, a leading international think-tank dedicated to the advancement of best practices in business ethics.

Dean Institute for Corporate Governance and Integrity - Lipscomb University

Dean Institute for Corporate Governance and Integrity - Lipscomb University

The Dean Institute for Corporate Governance and Integrity at Lipscomb University is a national forum for integrating best practices in governance with integrity and faith to benefit public and private company executives, board members and other top-tier corporate leaders. The institute seeks to address the root issues at play, namely, how character and integrity inform the decisions, actions, culture and performance of corporations.

Within the Dean Institute faculty and administration are experts in business ethics, how character and integrity inform business decisions and corporate governance among other issues.

For more information about Lipscomb University click here.

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