Women are on track to gain a record number of board seats by year's end, the Wall Street Journal reports.
From January to May, women made up 31 percent of new board directors at 3,000 of the largest publicly traded U.S. companies, according to a data analysis by corporate governance firm Institutional Shareholder Services. That's the highest percentage of female board seats in at least a decade.
Some notable 2018 board selections include those made by collaboration platform Slack, which appointed Edith Cooper to its board in February, and beauty company Estée Lauder, which added two female board members in April for a total of eight women on its 17-person board.
This increase in female board representation shouldn't be all too surprising, given a growing body of research showing that diverse boards improve business performance, as well as the gender inequality issues that have plagued companies over the last year.
Months later, women galvanized to share their experiences dealing with workplace sexual harassment. The ensuing #MeToo movement led to the toppling of prominent businessmen like Steve Wynn, the founder of Wynn Resorts. In April, the hotel chain added three women to it's board in an effort to refresh the brand after Wynn resigned as CEO and chairman.