The last S&P 500 company with an all-male board adds a woman

By Aimee Picchi

/ MoneyWatch

Finally: The last S&P 500 company with an all-male board of directors has added a woman to its ranks, marking a milestone in the push to diversify the corporate boardroom beyond the domain of men.

The online car auction company Copart on Tuesday said it added Diane M. Morefield, chief financial officer at real estate investment trust CyrusOne, to its previously all-male board, the last among the nation's largest public companies. The milestone took decades, with more than 50 companies in the S&P 500 still sporting all-male boards as recently as 2009.

Copart had been singled out earlier this month in a Washington Post article about the slow progress of gender diversity on America's corporate boards, although Copart at the time said it planned to add a "highly qualified, accomplished woman this year."

Milestone: There is now a woman board member at every S&P 500 company. @Copart Inc, the last remaining all male board of directors, appointed Diane Morefield this week: https://t.co/6qeMbijI8b #whenwomenthrive #leadership pic.twitter.com/dLxrCSBMpK

— ✨Amy Scissons ✨ (@sciz) July 25, 2019

Despite reaching this milestone, only 1 in 4 board seats at S&P 500 companies is occupied by a woman. And the realm of the all-male board is hardly dead, given that more than 500 companies on the Russell 3000 index don't have any women sitting on their boards, according to the Equilar Gender Diversity Index. Only 37 businesses in the Russell 3000 have reached gender parity, meaning half the seats are held by women, Equilar said.

Trending News

The Russell 3000 represents the largest 3,000 publicly traded businesses in the U.S., which means it therefore includes hundreds of smaller companies than the S&P 500 index, whose components are selected by criteria including market capitalization.

Proponents of diversity argue that the issue isn't only one of fairness and good corporate governance, but that creating more diverse management ranks helps businesses perform better. Studies back that up, such as a global analysis of almost 22,000 companies across 91 countries that found organizations with more women in leadership roles tend to be more profitable.

Businesses where at least 30% "C-suite" executives are women boost their profitability by 15% compared to those with male-only executive suites, the Peterson Institute for International Economics found.

First published on July 25, 2019 / 1:58 PM

© 2019 CBS Interactive Inc.. All Rights Reserved.

Last S&P 500 company with all-male board finally adds a woman

Despite the progress, all-male boards are common among smaller businesses where diversity isn't in the spotlight

2M ago

Influencer marketing fraud costs companies $1.3 billion

Influencer marketing is effective, but fraud — including inflated follower counts — can be costly to advertisers

12M ago

This week on "Sunday Morning" (July 28): The Money Issue

A look at the features for this week's broadcast of the #1 Sunday morning news program

20M ago

Lawmakers: Migrant kids "falling through the bureaucratic cracks"

"We cannot accept this," tweeted former Secretary of State Hillary Clinton about a CBS News report that "well over 4,000" migrant children can be detained indefinitely

1H ago

U.S. citizen says detention was so bad he almost self-deported

Francisco Erwin Galicia said he didn't shower for 23 days and was not provided with enough food while detained

1H ago

Lawmakers: Migrant kids "falling through the bureaucratic cracks"

"We cannot accept this," tweeted former Secretary of State Hillary Clinton about a CBS News report that "well over 4,000" migrant children can be detained indefinitely

1H ago

Trump attends Pentagon ceremony for Mark Esper

Mark Esper was confirmed as defense secretary in a 90-8 vote this week

1H ago

U.S.-China trade war hits a Warren Buffett investment

A $1.4 billion Berkshire Hathaway stake in a Chinese electric vehicle manufacturer has already started to stall

2H ago

Justice Department will execute inmates for first time since 2003

William Barr brings back seldom-used punishment pushed by President Trump; 5 inmates are scheduled to be executed starting in December

2H ago

Puerto Rico's incoming governor no stranger to controversy

Wanda Vázquez has been criticized for her reluctance to confront problems in Ricardo Rosselló's administration

2H ago

U.S.-China trade war hits a Warren Buffett investment

A $1.4 billion Berkshire Hathaway stake in a Chinese electric vehicle manufacturer has already started to stall

2H ago

Death toll from tainted Costa Rica alcohol rises

Costa Rican Health Ministry says it searched a facility belonging to one of the suppliers and confiscated boxes of the product

4H ago

Trump vetoes bill blocking arms sales to Saudi Arabia, UAE

Pompeo last month cited threats from Iran as a reason to approve the $8.1 billion arms sale to the two U.S. allies in the Persian Gulf

6H ago

Triple bombing rocks Afghan capital as top U.S. officials visit

At least 10 killed, dozens injured in explosions day after Joint Chiefs chairman came to "check the pulse" of the war

8H ago

A$AP Rocky charged with assault in Sweden

American rapper and his family insist he and his friends were just defending themselves, but prosecutor says video and witnesses tell another story

6H ago

Lil Nas X releases "Seoul Town Road" remix with K-pop star

The song has been No. 1 on Billboard's Hot 100 for 16 weeks – one more week and it breaks a record

1H ago

Meek Mill is finally living his dream

On Wednesday "CBS This Morning" revealed a new partnership between Mill's record label, Dream Chasers, and Jay-Z's Roc Nation​.

5H ago

New on Netflix, Hulu and Amazon

Shows and movies you'll want to stream soon

Jun 24 33 photos

Meek Mill is finally living his dream

Rapper Meek Mill's life could be changing forever. After spending more than 10 years on probation for drug and gun charges, the Pennsylvania Superior Court overturned his 2008 conviction Wednesday and granted him a new trial. He no longer has a criminal record. On Wednesday, "CBS This Morning" revealed a partnership between Mill's record label, Dream Chasers, and Jay-Z's Roc Nation. "CBS This Morning" co-host Gayle King recently met with Mill in his hometown of Philadelphia to discuss his career, relationship with Jay-Z and decision to become a criminal justice activist.

4H ago 07:04

A$AP Rocky charged with assault in Sweden

American rapper and his family insist he and his friends were just defending themselves, but prosecutor says video and witnesses tell another story

6H ago

Influencer marketing fraud costs companies $1.3 billion

Influencer marketing is effective, but fraud — including inflated follower counts — can be costly to advertisers

12M ago

How to figure out if Equifax owes you money for data hack

Determining if you're among the 147 million Americans entitled to compensation for 2017 breach takes only seconds

1H ago

Facebook confirms it faces FTC antitrust probe

Despite mounting regulatory scrutiny, the social media company earned $4.6 billion in its most recent quarter

20H ago

Tinder launches safety feature for LGBTQ users abroad

The popular dating app will now warn LGBTQ users in potentially dangerous regions

21H ago

DoorDash drops policy of keeping tips meant for workers

Country's largest on-demand food delivery app is changing much-criticized model of how those delivering meals are paid

Jul 24

Glyphosate faces a test inside America's homes

Scientists say that more research is needed on the impact of the weedkiller, with a new study showing traces in kids

4H ago

Mysterious underwater disease is ravaging Gulf Coast's coral

The disease has already infected about half of the coral species in the region

6H ago

College student discovers 65 million-year-old Triceratops skull

"I've been obsessed with dinosaurs since I was a kid, so it was a pretty big deal," student Harrison Duran said

17H ago

SpaceX to launch supplies — and slime — to space station Thursday

SpaceX Dragon cargo ship will be loaded with 5,000 pounds of equipment and supplies — including a container of bright green Nickelodeon "slime"

19H ago

Cement contributes to global warming, investors warn

Cement, a key ingredient in the world's most popular building material, emits more carbon than all but two countries

Jul 23

Teens say JUUL told 9th grade class vaping was safe

Two teens who testified before the House Committee on Oversight and Reform said a JUUL rep visited their school's mental health and addiction seminar

2H ago

Glyphosate faces a test inside America's homes

Scientists say that more research is needed on the impact of the weedkiller, with a new study showing traces in kids

4H ago

"Total shock": Cancer prompts recall of textured breast implants

"Even now, sometimes I go, 'How can that be?'"

4H ago

Breast implants tied to rare cancer recalled

Allergan Inc. announces a worldwide recall of implants with a textured surface

16H ago

High cancer risk plagues Louisiana town near chemical plants

For decades, people in Reserve, Louisiana, have had health problems ranging from dizziness and severe headaches to liver and lung cancer

19H ago

Last S&P 500 company with all-male board finally adds a woman

Despite the progress, all-male boards are common among smaller businesses where diversity isn't in the spotlight

2M ago

Influencer marketing fraud costs companies $1.3 billion

Influencer marketing is effective, but fraud — including inflated follower counts — can be costly to advertisers

12M ago

How to figure out if Equifax owes you money for data hack

Determining if you're among the 147 million Americans entitled to compensation for 2017 breach takes only seconds

1H ago

Teens say JUUL told 9th grade class vaping was safe

Two teens who testified before the House Committee on Oversight and Reform said a JUUL rep visited their school's mental health and addiction seminar

2H ago

U.S.-China trade war hits a Warren Buffett investment

A $1.4 billion Berkshire Hathaway stake in a Chinese electric vehicle manufacturer has already started to stall

2H ago

Teen suspect in highway murders on a "suicide mission," dad says

Bryer Schmegelsky and Kam McLeod are suspects in the slayings of an American woman, her Australian boyfriend and another man

1H ago

Federal death penalty reinstated

The Justice Department said it will reinstate the death penalty for federal inmates after a 16-year pause. There are 62 federal inmates on death row. Vladimir Duthiers has more.

1H ago 00:16

Jeffrey Epstein found injured in jail cell, put on suicide watch

Wealthy financier's injuries not said to be life threatening; it remains unclear whether they were self-inflicted, but he's been put on suicide watch as a precaution

2H ago

Police issue warrants for pair of "dangerous" teen suspects in Canada

Kam McLeod, 19, and Bryer Schmegelsky, 18, have been charged with second-degree murder in connection to one of three victims

14H ago

John McAfee says he has been released from detention

The millionaire anti-virus software founder and five others were suspected of traveling on a yacht carrying high-caliber weapons, ammunition and military-style gear

16H ago

SpaceX to launch supplies — and slime — to space station Thursday

SpaceX Dragon cargo ship will be loaded with 5,000 pounds of equipment and supplies — including a container of bright green Nickelodeon "slime"

19H ago

"They're back from the moon!": Apollo 11 splashdown, 50 years later

Four days after the first successful moon landing, astronauts Neil Armstrong, Buzz Aldrin and Michael Collins faced a final, harrowing challenge

17H ago

Chris Kraft, legendary NASA flight director, has died at age 95

Kraft virtually invented the mission control concept behind NASA's greatest space triumphs

Jul 22

New satellite factory to focus on space-based internet

"OneWeb is doing for the satellite industry what Henry Ford did for cars," said FCC Chairman Ajit Pai

Jul 22

Pence says moon, not Mars, remains near-term goal for NASA

In an interview on "The Takeout," Vice President Mike Pence reassured the space community with the administration's strong support for a "moon-first" policy

Jul 21

The Oddities & Curiosities Expo

A traveling exhibition of gothic and occult art, sideshow performers, and bizarre specimens stopped outside Chicago, where CBS News photographer Jake Barlow took in the odd sights

Jul 22 24 photos

New York's Central Park

America's first major landscaped public park, the 840-acre park in Manhattan welcomes more than 37 million visitors every year

Jul 21 25 photos

Manson Family murders: The terrifying story in pictures

A look at the cult slayings that shocked – and scared – America

Jul 3 44 photos

New on Netflix, Hulu and Amazon

Shows and movies you'll want to stream soon

Jun 24 33 photos

Evidence photos from the police shooting of Danroy "DJ" Henry Jr.

Evidence from the scene of Pace University student DJ Henry’s fatal encounter with Officer Aaron Hess in Mount Pleasant, N.Y.

Jun 22 19 photos

Popular

Body cam video captures murder-for-hire suspect's arrest

On July 23, 2015, detectives with the Montgomery County Texas Constable's Office arrive at the Houston gym owned by Ramon Sosa and his wife, Lulu, to arrest Lulu on suspicion of plotting her husband's death.

Jul 20 03:29

Cell phone video shows aftermath of DJ Henry shooting

Video from Robert Coulombe who attended Pace University with DJ Henry shows the scene at a Westchester, N.Y., strip mall minutes after DJ was shot in his car by Officer Aaron Hess in October 2010.

Jun 22 00:37

Sneak peek: Hollywood Horror Story

A wealthy Hollywood producer is accused of murdering his girlfriend. Was he following the plot of his frightening novel? Correspondent Maureen Maher investigates Saturday, July 13 at 10/9c on CBS.

Jul 13 03:37

A mother's desperate 911 call

When Olga Kasian did not hear from her daughter Iana after several days, she began repeatedly calling 911. Concerned about Iana's well-being and her recent C-section, Kasian desperately asks police — through the help of an Russian interpreter — to enter the home her daughter shared with boyfriend Blake Leibel.

Jul 20 01:14

#BlazeItForward: Murder victim remembered for his generosity and spirit

Close friends of the slain college sophomore share stories about the chef, writer and aspiring doctor who left their lives too soon.

Jul 20 02:27