Wall Street

There is now a woman board member at every S&P 500 company

Key Points
  • There are no more S&P 500 companies with all-male boards.
  • Copart, a Dallas-based online car auction site, says it is adding its first female member, Diane Morefield, to the company's board.
  • Navient is the S&P 500 company with the highest percentage of female board members with 58.2% being women, according to Equilar.
The 'Fearless Girl' statue stands facing the New York Stock Exchange (NYSE) on January 9, 2019 in New York.
Johannes Eisele | AFP | Getty Images

Women now have a seat at the table of every S&P 500 company.

The last company in the S&P 500 with an all-male board is adding its first female member.

Copart, a Dallas-based online car auction site, announced Tuesday it is adding Diane Morefield to the company's board. Morefield is executive vice president and chief financial officer of CyrusOne, a publicly traded REIT. Earlier in her career, Morefield was a real estate banker at Barclays.

Woman have slowly been gaining a record number of board seats as gender diversity, pay equality and fallouts from the #MeToo movement have motivated companies to recruit more female board members. The companies have faced pressure from large passive holds of stocks, including Blackrock and State Street.

As of 2012, nearly 1 in 8 S&P 500 boards were all male, according to Equilar, a data-based company that analyzes company's boards. Now, 27% of all S&P 500 board seats are taken by women, according to ISS Analytics.

In addition to Morefield, Copart said Stephen Fisher, former chief technology officer of eBay, will be joining the company's board.

Navient is the S&P 500 company with the highest percentage of female board members — 58.2%, according to Equilar.

General Motors, Macy's, Wells Fargo, HP, Procter & Gamble and Best Buy are also highlighted in the top 25 S&P 500 companies with the highest percentage of woman board members.

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