Last year, female executives around the world landed a measly 3% of the new CEO positions that opened even though the chief executive turnover rate was nearly 17%, according to a PwC analysis. At companies in the U.S. and Canada, things were even worse: Women made up fewer than 1% of the new CEOs brought on last year, the lowest number in the 16 years PwC has been conducting the study.
By Bloomberg’s count, there was literally only a single woman promoted to the top spot in the entire United States last year: MSG Networks’ Andrea Greenberg. What’s more, the problem isn’t limited to just new female CEOs. Women comprise only about one in five corporate board members, and they only run about 4% of companies in the S&P 500.
“Companies need to do more than they’re doing today to get talented women to be promoted to CEO,” PwC exec DeAnne Aguirre — stating the obvious — told Bloomberg.
Companies that had a rough year, like those in energy and materials, were more likely to replace their CEOs, but these are industries with longstanding reputations as boys’ clubs, Aguirre pointed out.
Cross-posted from Time Money