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PRINTER'S NO. 1554
THE GENERAL ASSEMBLY OF PENNSYLVANIA
HOUSE RESOLUTION
No.
273
Session of
2017
INTRODUCED BY HARPER, CORBIN, DEAN, MURT, FREEMAN, DONATUCCI,
DAVIS, TOOHIL, V. BROWN, HELM, BULLOCK, HILL-EVANS, BOBACK,
DeLISSIO, READSHAW, MUSTIO, DiGIROLAMO, ROZZI, DRISCOLL,
BIZZARRO, SOLOMON, CONKLIN, D. COSTA, KINSEY AND KIM,
APRIL 25, 2017
INTRODUCED AS NONCONTROVERSIAL RESOLUTION UNDER RULE 35,
APRIL 25, 2017
A RESOLUTION
Encouraging equitable and diverse gender representation on the
boards and in senior management of companies in Pennsylvania.
WHEREAS, Equitable and diverse gender representation in the
leadership ranks of companies in Pennsylvania is essential to
enhance the competitive position of this Commonwealth in the
global economy; and
WHEREAS, Women in the United States earned 36.5% of master of
business administration degrees in 2012-2013 and 57.1% of
bachelor's degrees, 59.9% of masters degrees and 51.8% of
doctorate degrees in 2013-2014; and
WHEREAS, Women made up 47% of the United States labor force
and 52% of all professional-level jobs in 2012; and
WHEREAS, According to the Bureau of Labor Statistics, women
made up 43.9% of the labor force in Pennsylvania in 2015; and
WHEREAS, In Pennsylvania in 2016, women held 17.2% of board
seats at Fortune 1000 companies and 12.7% of executive positions
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in the largest 100 public companies headquartered in
Pennsylvania; and
WHEREAS, Of these 100 companies, 41 have no women in
executive positions, 18 have no women on their boards of
directors, 41 have only 1 woman on their boards and 9 have no
women on their boards of directors or in their executive suites;
and
WHEREAS, In the Philadelphia region, where nonprofit
colleges, universities and health systems account for a
significant part of the regional economy, providing 37% of the
jobs in the City of Philadelphia alone, university and hospital
board seats held by women were 29% and 24%, respectively, in
2014, the last year for which public records are available; and
WHEREAS, The Catalyst Research Center for Equity in Business
Leadership issued an overview, Women on Corporate Boards
Globally, which emphasizes the benefits of gender-balanced
boards; and
WHEREAS, Catalyst's research series, The Bottom Line, found
that companies with more women on boards had better financial
results than those with fewer women and that companies with
sustained high representation of women board directors, defined
as having 3 or more women board directors in at least 4 of 5
years, significantly outperformed those with sustained low
representation by 84% on return on sales, 60% on return on
invested capital and 46% on return on equity; and
WHEREAS, Catalyst's overview, Women on Corporate Boards
Globally, cites findings that companies with fewer women on
boards had more governance-related controversies than average;
and
WHEREAS, The Forum of Executive Women, a membership
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organization of more than 450 women executive leaders actively
working to leverage the collective power of women's leadership
in the Greater Philadelphia region, has been issuing an annual
"Women on Boards Report" for many years on the status of women
leaders in top area public companies, with PwC serving as the
report's sponsor and research partner; and
WHEREAS, The Forum of Executive Women chose the theme "Forces
pushing for progress in the boardroom and C-suite" for the 2016
"Women on Boards Report" because experience shows that it takes
multiple strategies and multiple forces to get more women into
the ranks of leadership: female and male business leaders,
advocacy organizations, shareholders, investors, employees,
customers and elected officials all can be powerful forces for
challenging the status quo; and
WHEREAS, Women in the Workplace 2016, a comprehensive study
of the state of women in corporate America conducted by
LeanIn.Org and McKinsey & Company, emphasized that:
[w]omen are less likely to receive the first critical
promotion to manager--so far fewer end up on the path
to leadership--and they are less likely to be hired
into more senior positions. Women also get less access
to the people, input, and opportunities that
accelerate careers. As a result, the higher you look
in companies, the fewer women you see;
and
WHEREAS, Catalyst's overview, Women on Corporate Boards
Globally, indicated that research from many scholars and
organizations, including Catalyst, had found that three or more
women serving on a board "changes boardroom dynamics
substantially," "enhances the likelihood that women's voices and
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ideas are heard" and creates a "critical mass" of women which
can lead to better financial performance"; therefore be it
RESOLVED, That the House of Representatives find that the
Commonwealth of Pennsylvania has a significant stake in
promoting equitable and diverse gender representation in the
public, private and nonprofit leadership ranks of Pennsylvania
companies, institutions and State and local government; and be
it further
RESOLVED, That all nonprofit, privately held and publicly
traded institutions and companies doing business in this
Commonwealth should undertake a commitment to increase the
gender diversity on their boards of directors and in senior
management positions and set goals by which to measure their
progress; and be it further
RESOLVED, That the House of Representatives urge that by
December 31, 2020, all nonprofit, privately held and publicly
traded institutions and companies doing business in this
Commonwealth have a minimum of 30% of women directors and
measure their progress toward a goal of equal representation of
men and women in leadership positions on an annual basis.
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