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Only 8.4%
of corporate board seats in the Fortune 1000 companies based in Texas were held
by women by the end of 2001. This percentage ranks below the current
national percentage of 10.9% women's representation on the boards of directors
of the nation's 1000 largest corporations.
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Only 55
companies out of the 95 (57.9%) Fortune 1000 corporations headquartered in Texas
have women on their boards.
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Among
those companies with female corporate directors, Michael's Stores ranks first in
having 33.3% of its board made up of women or two women directors out of six.
The company with the most number of women is SBC Corporation with 6 female
directors out of 21 (28.6%).
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Among the
companies that do not have women on their boards, 40% are in the very industry
areas that have defined Texas business – energy, oil and gas. The one
exception is ExxonMobil, which has three women in its board of 12 (25%), ranking
it fourth in the top ten list of Texas-based companies with women directors.
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Among the
20 banks (ranked in size by the Texas Dept of Banking in its 2001 listing) with
assets over a million dollars, only 17 board positions out of 276 are held by
women, resulting in 6.2% female bank board representation.
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The Top
Ten Banks with the highest percentage of women directors include the Texas Bank,
which ranks first with 22.2% of its board seats held by women (2 out of 9).
Second place is held by the International Bank of Commerce, which has two women
in its board of 10 or 20%.
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Texas-based insurance companies have the best representation of women on their
boards, with 15.1% of board positions held by women in the 20 companies with
more than 1% market share ranked by the Texas Dept. of Insurance.
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The
Association Casualty Insurance Company ranks first among the Top Ten Insurance
Companies with the highest percentage of women directors, with three women
directors out of seven (42.7%).
