Procter & Gamble Co. is the only company among the world’s biggest multinationals with at least 40 percent female board membership, the minimum quota in Norway, the first nation to pass women-on-board legislation.
The CHART OF THE DAY compares the 50 companies in the Dow Jones Global Titans Index based on percentage of women directors, market capitalization, net income and total employees, according to data compiled by Bloomberg. Abbott Laboratories and PepsiCo Inc. are the only other index members with at least 30 percent female representation on their boards of directors.
Four so-called titans had no women directors: Toyota Motor Corp. and Mitsubishi UFJ Financial Group Inc., both based in Japan, South Korea’s Samsung Electronics Co. and Eni SpA, Italy’s largest oil producer. The U.S. titan with the lowest female representation is Chevron Corp., with 7.7 percent, the same as London-based BP Plc’s, Bloomberg data show.
Finance Minister Penny Wong said last week that improving the presence of women in Australia’s boardrooms is an area of particular interest to her.
“I hope that, over time, women who start their board careers in government will go on to successful careers in business and that they become the future leaders of change,” she said, according to the text of a speech announcing a network to support a goal that government boards be at least 40 percent female by 2015.
Norway’s quota for most public limited companies started in 2006, according to the website of advocacy group Women on Boards. The requirement was designed to match those for government bodies that dated back about two decades. Gender-balance legislation is in various stages in Italy, Netherlands, France, Spain, Belgium and Iceland, with differing targets and deadlines, according to the European Professional Women’s Network.
Only two members of the Global Titans Index, a capitalization-weighted gauge of the 50 largest multinational companies, have a female chairman or chief executive officer: PepsiCo’s Indra Nooyi has both titles and International Business Machines Corp.’s CEO is Virginia “Ginni” Rometty. Commonwealth Bank of Australia, Switzerland’s Nestle SA and France’s Total SA have top board diversity outside the U.S., each with 27 percent of female directors, a proportion matched by Intel Corp. and Pfizer Inc.