There is power in numbers and only when companies have three or more women on their corporate boards, will their cultures change, says Ivey Professor Alison Konrad.
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Responding to a recent study from PwC that shows only 25 per cent of companies in the S&P 500 have more than two women on their boards, Konrad told CNN Money those numbers need to change. Her study, “Critical Mass on Corporate Boards: Why Three or More Women Enhance Governance,” with co-authors from V. Kramer & Associates and Wellesley Centers for Women, showed one or two women aren’t enough.
“They were contributing, they were making a difference, but the culture of the board is not changing with one,” she says.
