In 2023, 33% of board directors at S&P 500 companies identified as women, and female directors accounted for 56% of appointments in 2023, up 12 points from 2022 and more than twice the numbers from a decade ago.*
While it’s promising to see the rising percentage of board seats being filled by women, at BoardProspects, we believe that welcoming diverse perspectives into the boardroom is only the first step; after that, those already on the board share the responsibility of ensuring those perspectives are being heard.
We asked Members of the BoardProspects community what steps sitting directors can take to encourage and facilitate participation from new female directors as well as what advice they’d give to women seeking out their first board role.
All of the women below have served on boards and many of these women have the unique experience of being the first woman to serve on a publicly-traded or private company’s board. We hope you find their insights as invaluable as we do.
What’s the best advice you’ve received as a female in the boardroom?
“Do not over-explain. Stay with facts and your instincts.”
- Yesim Gura, Independent Board Member, currently serving on the board at QNB Finansbank.
“Have confidence in the strength of your own opinion.”
- Caroline McDonnell, Independent Non-Executive Director, currently serving on the boards at AXA Insurance Dac, & Scotiabank.
“Be yourself and a good team player at the same time.”
- Heekyung Min, Lead Independent Director, currently serving on the board at Avolta.
“Be a champion of something - something specific - don’t be a generalist - admit the areas you know nothing about.”
- Carolyn Loder, currently serving on the boards at Integra Resources and K2 Gold Corp.
“Listen, learn, ask good questions, be seen as a valuable resource.”
- Leilani Latimer, CxO, currently serving on the boards at Black Diamond Group and Fiutur.
“You are there because of your experience and what you can add so back yourself and know that you belong and will add value.”
- Cindy Rampersaud, Former MD / SVP, currently serving on the boards at Hipgnosis Song Fund and Sage Homes.
“Be confident of the value you bring to the board.”
- Alice Brennan, Former Associate General Counsel & Chief Compliance Officer of Verizon Wireless, currently serving on the boards at RENN Fund, FRMO Corp. and Greenbacker Renewable Energy Company ll.
“Speak up. We have good questions and ideas. Do not apologize for what you don’t know. You are there for the things that you DO know.”
- Sharon Wienbar, Former CEO, Venture Capitalist, currently serving on the boards at Enovis, Resideo, USRowing, Planned Parenthood Direct, and TrueAnthem.
“Always bring your A game, you’ve earned a seat at the table - don’t forget to show everyone why!”
- Wendy DiCicco, CFO/Advisor, currently serving on the boards at EyePoint Pharmaceuticals and Imvax, Inc.
“The best advice I have received as a woman in the boardroom is to gain confidence that
my voice matters. The advice-giver even shared the book “You are a Bada** - How to Stop Doubting Your Greatness and Start Living an Awesome Life.” Advice + an instrument to apply the advice -- invaluable.”
- Julie Young, Attorney-at-Law, currently serving on the boards at CNB Financial Corp (CCNE) and CNB Bank.
“The best advice I have received in the boardroom is to always speak up and share my perspective confidently. It is important to have a seat at the table and contribute your unique insights and expertise to discussions. My advice to women considering board service is to believe in themselves and their abilities, to network and build relationships with other board members, and to continuously educate themselves on relevant industry trends and issues. Collaboration and communication are key in the boardroom, and it is essential for women to assert themselves and make their voices heard.”
- Jyothsna Gade, Chief Information Officer, currently serving on the board of V4J LLC.
“I would say to remember to use your voice. You are there because you are capable and have value. Do not play small just because you are the only woman or only person of color. Find ways to contribute where the value is clearly seen. And know your worth.”
- Grace Doherty, Independent Strategic Consultant, Serafina Strategies LLC, currently serving on the board at Patrion Bank.
“Make sure you spend time connecting with your fellow board members.”
- Asa Hedin, NED investor and speaker, currently serving on the boards at Tobii Dynavox, Artificial Solutions, Nolato, Biotage, QBTech, and Industrifonden.
“Everything you are, everything you’ve done, has gotten you to this place – you were chosen for who you are. It may be tempting to try to blend in and “act” like one of the guys. If that is who you are, be that. But if that is not who you are, don’t be that. Be you and trust in the value and power of that. Be comfortable being uncomfortable.”
- Cathy Stauffer, Board Chair and Board Member, currently serving on the boards at Ignite Fitness Holdings and Swig Company.
“Invest time to truly understand areas outside of your domain expertise. You will contribute and you should also expect to gain insights that make you a better more thoughtful board member.”
- LaShonda Anderson-Williams, EVP, Chief Strategy Officer, currently serving on the boards at Digimarc and University of Houston College of Technology & Engineering.
“Being the sole female member on my Advisory Board, and frequently the only senior woman in boardrooms and meetings throughout my executive career, the most valuable advice I’ve both received and can offer is to “know your why” and to deeply understand your unique value proposition. This understanding will shape your confidence, fuel your curiosity, and ultimately enhance your contributions in the boardroom.”
- Mita Gupta, Chief Revenue Officer and Board Advisor, currently serving as a board advisor at Mintec Ltd.
“Understand the industry, its cycles and make the effort to get to know the other board members.”
- Sylvia Acevedo, Speaker, Author, Former CEO, currently serving on boards at Qualcomm and Credo Technologies.
“As a woman in the boardroom, one of the most valuable pieces of advice I’ve received is
to recognize and navigate the existing dynamics of board culture. Despite sincere efforts towards diversity, many boards still tend to hire individuals who fit a certain profile, often perpetuating a sense of exclusivity akin to a club. As an immigrant, a female leader with a marketing background, and someone familiar with the Canadian market’s unique challenges, I’ve observed firsthand the homogeneity across numerous boards. Understanding this reality is crucial for aspiring female directors. While it may seem daunting, it’s essential to leverage your unique perspective and experiences to stand out. My advice to women considering board service is to embrace your differences unapologetically. Recognize the value your diverse background brings to the table and use it as a strength. Seek out opportunities to network, showcase your expertise, and demonstrate the unique perspective you can offer. By being authentic and persistent, you can break through the barriers of tradition and pave the way for a more inclusive and dynamic boardroom landscape.”
- Alexandra Panousis, Chief Client & Revenue Officer,currently serving on boards at Sampler & National Advertising Benevolent Society.
“Be prepared, refine your skills, practice effective listening.”
- Lila Jaber, President, currently serving on the board at Chesapeake Utilities Corporation.
What’s an actionable step sitting directors can take to encourage or facilitate participation from new female directors in the boardroom?
“Invite [female directors] to comment if they haven’t shared their views yet.”
- Caroline McDonnell, Independent Non-Executive Director, currently serving on the boards at AXA Insurance Dac, & Scotiabank.
“Get trained on biases and microaggressions. It is unbelievable how many supposedly nice comments a woman can receive which are actually sexist.”
- Delphine Mousseau, Chairperson, currently serving on boards at Safestore, Holland and Barrett, Refurbed, Aramis Group
“Provide opportunities for active participation on a committee to develop experience in working with the management and other board members.”
- Sylvia Acevedo, Speaker, Author, Former CEO, currently serving on boards at Qualcomm and Credo Technologies.
“Actively seek out and mentor qualified female candidates for board positions. This can involve networking with women in leadership roles, sponsoring female employees within the organization, and advocating for diverse slates of candidates during the recruitment process. By providing support and guidance to female directors, as well as creating a welcoming and inclusive boardroom environment, sitting directors can help ensure that new female voices are heard and valued at the table. Additionally, implementing diversity and inclusion training
for all board members can help foster a culture of equality and respect, ultimately leading to increased participation and contributions from female directors.”
- Jyothsna Gade, Chief Information Officer, currently serving on the board of V4J LLC.
“Sitting directors must actively seek out and champion voices that diverge from the traditional elite club mentality. It’s not just about welcoming diversity; it’s about actively fostering an environment where new female directors feel empowered to contribute meaningfully. This means amplifying their voices, valuing their insights, and actively advocating for their inclusion in decision-making processes.”
- Alexandra Panousis, Chief Client & Revenue Officer,currently serving on boards at Sampler & National Advertising Benevolent Society.
“Allow the new Board Director’s the opportunity to ask their questions first. They have a tendency to ask questions that may have been missed by others or just provide a unique perspective.”
- Debora Bielecki, currently serving on the boards at Bank of Canada, Canadian Lightsource, and Circular Rubber Technologies.
“Coach the candidates you want to have a good shot.”
- Rachel Braun Scherl, Managing Partner, author, speaker, currently serving on the board at GenBioPro and JWI.
“Actively encourage different perspectives.”
- Heekyung Min, Lead Independent Director, currently serving on the board at Avolta.
“Respect their strengths.”
- Carolyn Loder, currently serving on the boards at Integra Resources and K2 Gold Corp.
“The answer is obvious: treat and show the same regard and camaraderie to the female board members as is typical for the men.”
- Margaret Wiermanski, Managing Director, currently serving on the boards at Cboe Digital Exchanges and Equity Armor Investments.
“Prepare good onboarding, schedule 1:1 meetings with new board members.”
- Leilani Latimer, CxO, currently serving on the boards at Black Diamond Group and Fiutur.
“Befriend them. Listen to their views.”
- Alice Brennan, Former Associate General Counsel & Chief Compliance Officer of Verizon Wireless, currently serving on the boards at RENN Fund, FRMO Corp. and Greenbacker Renewable Energy Company ll.
“ASK WHAT WE THINK and then acknowledge that some of the good ideas originated with the woman director by name.”
- Sharon Wienbar, Former CEO, Venture Capitalist, currently serving on the boards at Enovis, Resideo, USRowing, Planned Parenthood Direct, and TrueAnthem.
“Consistent open dialogue at the board level following management presentations encourages all members to bring their knowledge to the table.”
- Wendy DiCicco, CFO/Advisor, currently serving on the boards at EyePoint Pharmaceuticals and Imvax, Inc.
“Individual feedback and mentorship is a must.”
- Julie Young, Attorney-at-Law, currently serving on the boards at CNB Financial Corp (CCNE) and CNB Bank.
“The members of my board welcomed me at the first meeting and encouraged me to ask questions and said out loud that I was welcome and that they wanted my feedback and contribution. They have backed this up by listening and soliciting my feedback and advice. This welcoming engagement has helped me fit in more quickly so I can contribute in a bigger way.”
- Grace Doherty, Independent Strategic Consultant, Serafina Strategies LLC, currently serving on the board at Patrion Bank.
“To include new board members [whether] female or male. As a chair, go around the room to make sure all voices are heard, particularly the new female directors.”
- Asa Hedin, NED investor and speaker, currently serving on the boards at Tobii Dynavox, Artificial Solutions, Nolato, Biotage, QBTech, and Industrifonden.
“An effective board chair encourages and creates a healthy environment of participation from ALL board members, regardless of gender and tenure on the board.”
- Cathy Stauffer, Board Chair and Board Member, currently serving on the boards at Ignite Fitness Holdings and Swig Company.
“(1) Be intentional and have a formal onboarding process. (2) Build an educational plan into committee meetings.”
- LaShonda Anderson-Williams, EVP, Chief Strategy Officer, currently serving on the boards at Digimarc and University of Houston College of Technology & Engineering.
“Build relationships with your board members not only in the boardroom, but more importantly outside of the boardroom (e.g. one-on-ones). This will facilitate better communication, alignment and trust amongst all members and especially new members on the team.”
- Mita Gupta, Chief Revenue Officer and Board Advisor, currently serving as a board advisor at Mintec Ltd.
“Proactively seek the opinion of fellow board members.”
- Lila Jaber, President, currently serving on the board at Chesapeake Utilities Corporation.
“Understand diversity and inclusion. Have a roadmap to include more women for a more balanced and diverse boardroom aiming at better effectiveness and sustainability.”
- Yesim Gura, Independent Board member, currently serving on the board at QNB Finansbank.
Thank you to all BoardProspects Members who shared their thoughts with us!
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