2010 tcn progress census
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The 2010 Chicago Network Progress CensusTRANSCRIPT
The Chicago Network
2010 Census Progress Report
2 2010 Census Progress Report The Chicago Network
Despite the challenging economic environment, The Chicago Network is pleased to report that women have reached their highest percentages in the boardrooms and executive suites of Chicago’s 50 largest public companies, based on results of our 13th annual census. The 2010 Census Progress Report also indicates women hold 15.3% of all director positions, 15.8% of executive officer positions and accounted for nearly 30% of all new board positions among these companies.
While this news is encouraging, there is more work to do on other key measures. Women struggle to move into the ranks of top earners. There are still 34 companies without any women top earners, two more than last year, and the results for women of color are decidedly mixed. The pace of change remains exceedingly slow.
Last year, The Chicago Network determined to take a more active approach to improving women leadership in the Chicago corporate community through its Women on Boards initiative, helping companies and their search partners find highly qualified women candidates for board openings The Chicago Network’s early results are encouraging, and in time, we hope our efforts will have a positive, direct effect on the results we report on in our annual census progress report.
The Chicago Network remains committed to advancing women leadership in the Chicago corporate community and measuring progress towards this goal through our annual census. We encourage you to use our website as a reference for helpful suggestions on improving women’s leadership in your company, or utilize our Women on Boards service.
The Chicago Network and the Census Committee are pleased that Deloitte continues to work with us on this important measure of progress of women leadership in the Chicago corporate community. We greatly appreciate their support in the creation of the 2010 Census Progress Report.
Michelle L. CollinsChair, 2010 Census Committee
“Deloitte has a longstanding relationship with The Chicago Network and fully supports its mission to serve as a catalyst for empowering women with the information and relationships they need to succeed. The annual Census Progress Report is an outstanding example of TCN’s valuable research. For the eighth year, we are proud to assist with the data collection and analysis provided in the following report. For Deloitte, fostering diversity is a business imperative that allows us to attract, retain and develop high-performing talent to serve the top companies in Chicago. We are optimistic that this report will help companies understand the progress being made as well as the ongoing need for increasing diversity within their organizations.”
Deborah L. DeHaasVice Chairman and Midwest Regional Managing Partner, Deloitte LLP
The 2010 Census Progress Report
3 2010 Census Progress Report The Chicago Network
The percentage of women directors jumped to its highest • level ever, 15.3%, up from 14.1% in 2009 – 85 women are on boards, the highest absolute number since we started tracking
The percentage of new women directors out of all • new directors in 2010 has more than doubled since 2009 – 29.5% in 2010 compared to 14.0% last year
Two more companies than last year have greater than • 25% representation of women on Boards of Directors
There was a decrease in the number of companies • with no women directors, from seven down to five
Women as a % of Total Directors - 2010 Census
15.3% 14.1%
Women as a % of Total Directors - 2009 Census
The Chicago 50 - Directors
The
Chi
cago
50
Com
pani
es% of Women on Boards of Directors - 2010 Census
0%
5
10
15
20
25
30
5
12
26
7
1 - 10% 11 - 25% Above 25%
4 2010 Census Progress Report The Chicago Network
The Chicago 50 - Executive Officers
Women executive officers increased by 0.9%, moving from • 14.9% in the 2009 Census to 15.8% in 2010, the highest level since the Census began
The number of women executive officers increased • by four to 80 from 76 last year, but the number of total executive officers has decreased every year since 2003 (from 644 to 505)
The percentage of new women executive officers of all • new executives is 13.3% for 2010, compared to 17.0% last year – a decrease for the past two years
The number of companies with greater than 25% • women executive officers decreased by one from the 2009 Census to the 2010 Census
Companies with no women executive officers fell from • 17 to 13 from 2009 to 2010; 26% of the Chicago 50 had no women executive officers, down from 34%
Women as a % of Executive Officers - 2010 Census
15.8% 14.9%
Women as a % of Executive Officers - 2009 Census
The
Chi
cago
50
Com
pani
es% of Women Executive Officers on Board of Directors - 2010 Census
0%
5
10
15
20
25
30
13
4
26
7
1 - 10% 11 - 25% Above 25%
5 2010 Census Progress Report The Chicago Network
The Chicago 50 - Top Earners
From 2009 to 2010, the percentage of women who were • top earners remained exactly the same at 7.7%
In 2010 there are three companies with more than • 25% women as top earners – two more than in 2009
The number of companies with no women top earners • increased by two companies in 2010 to 34
The
Chi
cago
50
Com
pani
es% of Women who are Top Company Earners - 2010 Census
0%
5
10
15
20
25
30
35
40
34
13
34
3
1 - 25% 25 - 50%
Women as a % of Top Company Earners - 2010 Census
Women as a % of Top Company Earners - 2009 Census
7.7% 7.7%
6 2010 Census Progress Report The Chicago Network
The Chicago 50 - Companies with No Women Leaders
Companies with No Women Leaders - 2010 Census
The
Chi
cago
50
Com
pani
es
No Women Directors
5
10
15
20
25
30
35
40
34
5
13
3
No Women Top Earners
No Women Executive Officers
No Women In All Three
The
Chi
cago
50
Com
pani
es
No Women Directors
5
10
15
20
25
30
35
40
32
7
17
4
No Women Top Earners
No Women Executive Officers
No Women In All Three
Companies with No Women Leaders - 2009 Census
2010 ResultsThe five companies with zero women directors have 48 directors total• The 13 companies with zero women executive officers had 100 executive officers total• The 34 companies with zero women top earners had 165 top earners total•
7 2010 Census Progress Report The Chicago Network
The Chicago 50 - Top/Bottom Performers
The Chicago 50 - 2010 Top Census Performers - Ranked by Total Percentage*
The Chicago 50 - 2010 Bottom Census Performers - Ranked by Total Percentage*
Rank Company Women Directors Women Executive Officers Women Top Earners Total
# % # % # % %
1 Corn Products International, Inc. 3 30.0% 4 44.4% 2 40.0% 38.1%
2 The Allstate Corporation 3 27.3% 4 26.7% 2 50.0% 34.6%
3 Kraft Foods Inc. 4 33.3% 4 36.4% 1 20.0% 29.9%
4 Northern Trust Corporation 2 15.4% 4 40.0% 2 33.3% 29.6%
5 Jones Lang LaSalle 3 33.3% 2 18.2% 1 20.0% 23.8%
Rank Company Women Directors Women Executive Officers Women Top Earners Total
# % # % # % %
46 Old Republic International Corporation 1 9.1% 0 0.0% 0 0.0% 3.0%
47 Molex Incorporated 1 7.7% 0 0.0% 0 0.0% 2.6%
48 CNA Financial Corporation 0 0.0% 0 0.0% 0 0.0% 0.0%
48 LKQ Corporation 0 0.0% 0 0.0% 0 0.0% 0.0%
48 U.S. Cellular Corp.** 0 0.0% 0 0.0% 0 0.0% 0.0%
Corn Products, The Allstate Corporation, and Kraft Foods maintained their hold on the top 5 list from last year; all other entries are new
Three companies had no women directors, executive officers, and top earners – CNA Financial Corporation, U.S. Cellular Corp, and LKQ Corporation
*Total percentage calculated as the average of the percentage of women directors, percentage of women executive officers, and percentage of women top earners.
** On May 10, 2010, US Cellular announced that Mary N. Dillon is replacing retiring president and CEO John Rooney and will be joining the US Cellular Board. This management change and any others US Cellular implements will be reflected in their financial reports to be filed in 2011.
8 2010 Census Progress Report The Chicago Network
The Chicago 50 - Women of Color
17.5% of women directors are women of color, down • from 19.5% in 2009 (though women as a percentage of total directors increased from 14.1% to 15.3%)
The number of directors who are women of color • has decreased from last year, from 15 to 14
Across all companies, 13.2% of women executive • officers are women of color, up from 11.8% in 2009
This year ten women executive officers were iden-• tified as women of color, compared to nine women last year
Women As A Percentage Of Total Directors
15.3% 17.5%
Women of Color As A Percentage Of Women Directors
Women As A Percentage Of Total Executive Officers
15.8% 13.2%
Women of Color As A Percentage Of Women Executive Officers
9 2010 Census Progress Report The Chicago Network
Trend Analysis - Directors
In 2010, the number of women directors jumped from • 77 to 85, the highest level ever. Women represent 15.3% of board members, the highest level ever
Over the last thirteen years:• The number of companies with multiple women • directors has increased from 17 to 29The number of women directors has • increased 39.3%
Number of Women Directors
% of Women Directors
Num
ber o
f Wom
en D
irect
ors
% o
f Wom
en D
irect
ors
401998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010
50
60
70
80
90
100
6166
71 68 70 70 7177 75 76 77 77
85
5%1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010
10%
15%
20%
10.1%
11.0%12.2%
11.4%12.4%
13.0%14.4% 14.3%
15.0%
14.1%
15.3%
13.8%12.4%
10 2010 Census Progress Report The Chicago Network
Trend Analysis - Executive Officers
The number of women executive officers recognized • a recent uptick but is still down from the peak in 2005
Since 1998:• The number of companies with multiple women • executive officers has almost doubled, though this is off from a high of 26 in 2005The number of women executive officers has • increased 70.2%
401998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010
50
60
70
80
90
100
47
6260
66 67
8892
94
88
75 7576
80
Number of Women Executive Officers
% of Women Executive Officers
Num
ber o
f Wom
en E
xecu
tive
Offi
cers
% o
f Wom
en E
xecu
tive
Offi
cers
5%1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010
10%
15%
20%
7.1%
8.7% 8.6%9.6%
11.4%
13.7%14.4%
15.4%
14.8%14.0% 14.4% 14.9%
15.8%
11 2010 Census Progress Report The Chicago Network
The Chicago 50 – Ranked by Revenue
Rank CompanyTotal
DirectorsWomen
Directors
Percentage Women
Directors
Total Executive Officers
Women Executive Officers
Percentage Women Officers
1 The Boeing Company 12 2 16.7% 11 1 9.1%2 Walgreen Co. 9 1 11.1% 23 5 21.7%3 Sears Holdings Corporation 7 2 28.6% 8 0 0.0%4 Kraft Foods Inc. 12 4 33.3% 11 4 36.4%5 The Allstate Corporation 11 3 27.3% 15 4 26.7%6 Abbott Laboratories 12 1 8.3% 20 3 15.0%7 McDonald’s Corporation 13 3 23.1% 12 3 25.0%8 Motorola, Inc. 11 0 0.0% 9 2 22.2%9 Exelon Corporation 16 2 12.5% 12 3 25.0%10 UAL Corporation 13 3 23.1% 5 1 20.0%11 Illinois Tool Works Inc. 9 2 22.2% 17 2 11.8%12 Sara Lee Corporation 12 3 25.0% 9 1 11.1%13 Baxter International Inc. 13 2 15.4% 12 4 33.3%14 Navistar International 10 1 10.0% 9 1 11.1%15 R.R. Donnelley & Sons Company 9 2 22.2% 7 1 14.3%16 CNA Financial Corporation 8 0 0.0% 9 0 0.0%17 Discover Financial Services 11 3 27.3% 9 2 22.2%18 Aon Corporation 13 2 15.4% 11 3 27.3%19 Integrys Energy Group 13 3 23.1% 11 1 9.1%20 OfficeMax Incorporated 8 2 25.0% 5 1 20.0%21 NiSource Inc. 11 2 18.2% 9 2 22.2%22 W.W. Grainger, Inc. 12 1 8.3% 8 1 12.5%23 Fortune Brands, Inc. 10 2 20.0% 6 0 0.0%24 Smurfit-Stone Container Corporation 9 1 11.1% 13 1 7.7%25 Telephone & Data Systems 12 2 16.7% 10 0 0.0%26 Anixter International Inc. 11 1 9.1% 9 1 11.1%27 United Stationers Inc. 10 1 10.0% 8 2 25.0%28 Tenneco Inc. 10 1 10.0% 10 0 0.0%29 U.S. Cellular Corp. 11 0 0.0% 7 0 0.0%30 Northern Trust Corporation 13 2 15.4% 10 4 40.0%31 Corn Products International, Inc. 10 3 30.0% 9 4 44.4%
The Chicago 50 Companies - 2010 Board of Directors and Executive Officers
12 2010 Census Progress Report The Chicago Network
Rank CompanyTotal
DirectorsWomen
Directors
Percentage Women
Directors
Total Executive Officers
Women Executive Officers
Percentage Women Officers
32 Hospira, Inc. 10 2 20.0% 9 1 11.1%33 Old Republic International Corporation 11 1 9.1% 8 0 0.0%34 Nalco Holding Company 8 1 12.5% 8 1 12.5%35 Pactiv Corporation 8 1 12.5% 6 0 0.0%36 Hyatt Hotels Corp 12 2 16.7% 9 1 11.1%37 USG Corporation 11 1 9.1% 15 3 20.0%38 General Growth Properties, Inc 10 3 30.0% 9 1 11.1%39 Hewitt Associates, Inc. 10 1 10.0% 15 5 33.3%40 Unitrin, Inc. 11 2 18.2% 8 1 12.5%41 Brunswick Corporation 10 2 20.0% 12 1 8.3%42 Nicor Inc. 13 2 15.4% 10 2 20.0%43 CME Group 34 2 5.9% 16 4 25.0%44 CF Industries Holdings 8 0 0.0% 9 1 11.1%45 Molex Incorporated 13 1 7.7% 9 0 0.0%46 Jones Lang LaSalle 9 3 33.3% 11 2 18.2%47 Packaging Corp of America 7 1 14.3% 6 0 0.0%48 LKQ Corporation 10 0 0.0% 6 0 0.0%49 Equity Residential 10 1 10.0% 8 0 0.0%50 AptarGroup 10 2 20.0% 7 0 0.0%
Total 556 85 15.3% 505 80 15.8%
The Chicago 50 – Ranked by Revenue (continued)
13 2010 Census Progress Report The Chicago Network
The Chicago 50 Women Directors 2010 – Ranked by Revenue
Rank Company Name1 The Boeing Company Linda Z. Cook
Susan C. Schwab
2 Walgreen Co. Nancy M. Schlichting
3 Sears Holdings Corporation Ann N. Reese
Emily Scott
4 Kraft Foods Inc. Myra M. Hart
Lois D. Juliber
*Irene B. Rosenfeld
Deborah C. Wright
5 The Allstate Corporation *Andrea Redmond
Judith A. Sprieser
Mary Alic Taylor
6 Abbott Laboratories Roxanne S. Austin
7 McDonald’s Corporation Susan E. Arnold
Jeanne P. Jackson
*Shelia A. Penrose
9 Exelon Corporation Sue L. Gin
Rosemarie B. Greco
10 UAL Corporation Mary K. Bush
Jane C. Garvey
Weny J. Morse
11 Illinois Tool Works Inc. *Susan Crown
*Pamela B. Strobel
12 Sara Lee Corporation *Brenda C. Barnes
Crandall C. Bowles
Laurette T. Koellner
13 Baxter International Inc. Gail D. Fosler
Carole J. Shapazian
14 Navistar International Diance H. Gulyas
15 R.R. Donnelley & Sons Company Judith H. Hamilton
Susan M. Ivey
17 Discover Financial Services Mary K. Bush
Cynthia A. Glassman
E. Frolin Smith
18 Aon Corporation *Gloria Santona
Carolyn Y. Woo
19 Integrys Energy Group Pastora San Juan Cafferty
*Ellen Carnahan
Kathryn M. Hasselblad-Pascale
20 OfficeMax Incorporated Dorrit J. Bern
Fancesca Ruiz de Luzuriaga
21 NiSource Inc. Deborah S. Parker
Carolyn Y. Woo
Rank Company Name22 W.W. Grainger, Inc. V. Ann Hailey
23 Fortune Brands, Inc. Ann F. Hackett
Anne M. Tatlock
24 Smurfit-Stone Container Corporation *Connie K. Duckworth
25 Telephone & Data Systems Prudence E. Carlson
Letitia G. Carlson
26 Anixter International Inc. Linda Walker Bynoe
27 United Stationers Inc. Jean S. Blackwell
28 Tenneco Inc. *Jane L. Warner
30 Northern Trust Corporation Linda Walker Bynoe
*Susan Crown
31 Corn Products International, Inc. *IIene S. Gordon
Karen L. Hendricks
*Barbara A. Klein
32 Hospira, Inc. *Barbara L. Bowles
Connie R. Curran
33 Old Republic International Corporation Fredericka Taubitz
34 Nalco Holding Company Mary M. VanDeWeghe
35 Pactiv Corporation Mary R. Henderson
36 Hyatt Hotels Corp Susan D. Kronick
Penny Pritzker
37 USG Corporation Judith A. Sprieser
38 General Growth Properties, Inc *Debra Cafaro
*Sheli Rosenberg
Beth Stewart
39 Hewitt Associates, Inc. *Cheryl A. Francis
40 Unitrin, Inc. *Julie M. Howard
*Ann E. Ziegler
41 Brunswick Corporation Anne E. Bélec
Cambria W. Dunaway
42 Nicor Inc. Brenda J. Gaines
Georgia R. Nelson
43 CME Group Jackie M. Clegg
*Terry L. Savage
45 Molex Incorporated *Michelle L. Collins
46 Jones Lang LaSalle DeAnne Julius
Lauralee E. Martin
*Shelia A. Penrose
47 Packaging Corp of America *Cheryl K. Beebe
49 Equity Residential Linda Walker Bynoe
50 AptarGroup Giovanna Kampouri Monnas
*Joanne C. Smith*Member of The Chicago Network
14 2010 Census Progress Report The Chicago Network
The Chicago 50 Women Executive Officers and Top Earners 2010 – Ranked by Revenue
Rank Company Name1 The Boeing Company Wanda K. Denson-Low2 Walgreen Co. Sona Chawla Kimberly L. Feil *Dana I. Green Mia M. Scholz Denise K. Wong4 Kraft Foods Inc. Karen J. May *+Irene B. Rosenfeld Jean E. Spence *Mary Beth West5 The Allstate
Corporation *Catherine S. Brune +Judith P. Greffin *+Michele C. Mayes *Joan H. Walker6 Abbott Laboratories Heather L. Mason *+Laura J. Schumacher Mary T. Szela7 McDonald’s
Corporation *Mary N. Dillon Janice Fields *Gloria Santona8 Motorola, Inc. Michele A. Carlin Karen P. Tandy9 Exelon Corporation *Ruth Ann Gillis +Elizabeth A. Moler *Andrea L. Zopp10 UAL Corporation *+Kathryn A. Mikells11 Illinois Tool Works Inc. Sharon M. Brady *Jane L. Warner12 Sara Lee Corporation *+Brenda C. Barnes13 Baxter International
Inc. +Joy A. Amundson Jeanne K. Mason Karenann K. Terrell Cheryl L. White14 Navistar International Phyllis E. Cochran15 R.R. Donnelley & Sons
Company *+Suzanne S. Bettman17 Discover Financial
ServicesKathryn McNamara Corley
*+Diane E. Offereins18 Aon Corporation *+Christa Davies *Kathryn Hayley
Laurel Meissner
Rank Company Name19 Integrys Energy Group Diane L. Ford20 OfficeMax Incorporated +Deborah A. O’Connor21 NiSource Inc. *Carrie J. Hightman Eileen O’Neill Odum22 W.W. Grainger, Inc. Nancy A. Hobor
24Smurfit-Stone Container Corporation Susan M. Neumann
26Anixter International Inc. Nancy C. Ross-Dronzek
27 United Stationers Inc. Barbara J. Kennedy *+Victoria J. Reich
30Northern Trust Corporation *+Sherry S. Barrat
Aileen B. Blake +Jana R. Schreuder Joyce St. Clair
31Corn Products International, Inc. *+Cheryl K. Beebe
*+IIene S. Gordon Kimberly A. Hunter *Mary Ann Hynes32 Hospira, Inc. Daphne E. Jones
34Nalco Holding Company Mary Kay Kaufmann
36 Hyatt Hotels Corp Susan T. Smith37 USG Corporation Karen L. Leets Mary A. Martin Jennifer F. Scanlon
38General Growth Properties, Inc Sharon Polonia
39 Hewitt Associates, Inc. Julie S. Gordon Tracy Keogh Mary K. Moreland *+Kristi A. Savacool Richele A. Soja40 Unitrin, Inc. Lisa M. King41 Brunswick Corporation Kristin M. Coleman42 Nicor Inc. Claudia J. Colalillo Karen K. Pepping43 CME Group *Kathleen M. Cronin Julie Holzrichter Hilda Harris Piell *Kimberly S. Taylor44 CF Industries Holdings Wendy S. Jablow Spertus46 Jones Lang LaSalle *+Lauralee E. Martin Nazneen Razi
*Member of The Chicago Network
+Top Earner
15 2010 Census Progress Report The Chicago Network
Methodology Statements
The Chicago 50 Census MethodologyTo determine the 50 companies to include in the Census, we first combined the Fortune 500 list with the Crain’s Chicago Business - Chicago’s Largest Public Companies list, ranking all companies in descending order of annual revenue. (The use of the Crain’s list dates from 2006. Prior to 2006, we used the Chicago Tribune 100 list, which is comparable.) We then chose the 50 largest publicly reporting companies in terms of revenue that are headquartered within the Chicago metropolitan area. We reviewed the 10-K and proxy statements for the fiscal year 2009. Based on the review, we compiled the statistics for the companies’ executive officers, board members and most highly compensated employees. We gathered this information for both men and women for each company. In addition to reviewing the 50 largest companies for fiscal 2009, we also analyzed trends across all companies that have appeared in the Chicago 50 since 1998.
Women of Color MethodologyTo conduct the analysis, information was requested from the Chicago 50 companies that have one or more women directors or executive officers for whom information has not been provided in prior years. Only companies responding to the request were included in the analysis. We did not request information from companies that had no women. Women of Color are non-Caucasian women identified as Black, Hispanic, Asian, Native Hawaiian and other Pacific Islander and American Indian or Alaskan Native. (Source: U.S. Census Bureau Racial and Ethnic Classifications Used in the Census 2000 and Beyond.)
As used in this document, “Deloitte” means Deloitte LLP and its subsidiaries. Please see www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries.