Breaking Barriers: Companies Championing Gender Equity in C-Suite Roles

Written by: Marissa Camarillo. 

Contributor: Ashley Vergara; Edited by: Idara Ogunsaju

Introduction

In today's rapidly evolving corporate landscape, gender equity in leadership is not just a moral imperative - it is a business necessity. Yet, despite the growing recognition of the value that diverse leadership brings to organizations, women remain underrepresented at the highest levels of many industries. For example, Although women make up a substantial portion of the workforce, they account for only 28% of all executives in the S&P 100, leaving men to dominate 72% of leadership roles in some of the largest and most influential companies globally.¹  When looking at the representation of women by seniority in companies throughout both the US and Canada (not just the most influential companies in the world - S&P 100), there is a decrease in female representation as positions become more senior.

 Image: Graph showing the percentage of women in organizational roles across industries.(2)

The largest drop-off in female representation occurs at the most senior levels. The technology industry suffers from underrepresentation of women at every seniority level, with the gap only widening for more senior positions. These trends result in women holding only 30% of VP positions compared to 70%for men, and as low as 20%for CXO or C-Suite positions.(2).

The C-suite, or chief suite, refers to the group of top-level executives responsible for managing the overall operations and strategic direction of a company. Key roles in the C-suite include the CEO (Chief Executive Officer), CFO (Chief Financial Officer), COO (Chief Operating Officer), and others, depending on the organization. These are the executives that make critical decisions, set goals, and ensure the company’s vision and strategy are executed. They also collaborate closely with the board of directors to align the company’s operations with its long-term objectives. Another influential role within companies aside from C-suite are the board of directors. The board of directors play a pivotal role in shaping a company's strategic direction and ensuring sound governance. As the highest governing body, the board is responsible for overseeing the organization’s management, setting long-term goals, and ensuring accountability to shareholders and stakeholders. Their duties include appointing and evaluating top executives, providing financial oversight, and managing risks. In essence, the board ensures that the company operates with integrity and aligns its actions with its mission and values.  When looking at leadership roles in organizations, we recognize that there is strategic, executive and operational leadership within the organizational structure, and strategic leadership also from the board of directors. 

Industry, Sector Review, and Data

As industries continue to evolve, the representation of women in leadership roles within STEM (Science, Technology, Engineering, and Mathematics) sectors remains a critical measure of progress toward gender equity. Despite incremental improvements, significant gaps persist across various industries. As of 2024, women represent approximately 27.6% of the technology workforce, showing modest growth but still falling short of parity. In leadership positions, the disparity is even more pronounced, with women occupying just 19% of senior vice president roles and 15% of CEO positions. Black and Latinx women face even greater underrepresentation, at 2.2% and 1.9%.³

In the biotech industry, women make up only about 32% of senior executives and 26% of chief executives. Gender imbalance extends to scientific roles as well, where women account for 35% of biomanufacturing positions and 30% in digital and computational roles.⁴

The MedTech sector reflects similar trends, with women holding only 21% of executive roles at the world’s 100 largest medical device companies.⁵. In the energy industry, women make up just 27% of the workforce, with representation varying across sectors from 24% in motor vehicles to 33% in electricity generation.⁶ Currently, women make up a small percentage of CEOs in the power and utility industry globally. According to data from S&P Global Market Intelligence, only about 9.8% of CEOs in the U.S. and Canadian companies analyzed are women. Within the C-suite, women are commonly in the roles of general counsel or chief legal officer, representing 24.1%, followed closely by CFOs at 23.1%.⁷  So far, women account for a small percentage of the industry's CEOs.

 As industries continue to evolve, the representation of women in leadership roles within STEM (Science, Technology, Engineering, and Mathematics) sectors remains a critical measure of progress toward gender equity. Despite incremental improvements, significant gaps persist across various industries. As of 2024, women represent approximately 27.6% of the technology workforce, showing modest growth but still falling short of parity. In leadership positions, the disparity is even more pronounced, with women occupying just 19% of senior vice president roles and 15% of CEO positions. Black and Latinx women face even greater underrepresentation, at 2.2% and 1.9%.³

These statistics underscore the ongoing challenges women face in achieving leadership positions across STEM fields. This report will delve into industry-specific data, highlighting the current state of gender diversity in leadership and the broader workforce across technology, biotech, MedTech, and the energy sector.

The Antorge Group is committed to shining a spotlight on companies that are actively addressing this critical gap in the talent pipeline. By identifying and celebrating the top organizations that are leading the way in promoting women into executive roles, the Antorge Group aims to inspire broader industry-wide changes that will pave the way for the next generation of female leaders.

In this article, we recognize the top five San Diego companies leading the charge in women empowerment and gender equality within their sectors. From tech giants to energy innovators, these companies are at the forefront of change, shaping the future of leadership

Methodology:

As part of our plan to recognize companies making strides in gender equity, we first turned to Artificial Intelligence (AI) and one of the most popular Large Language Model (LLM) tools out there, specifically ChatGPT. With a prompt in ChatGPT, we began by searching the top 10 companies identified through ChatGPT's analysis. The companies identified through ChatGPT were then reviewed by our team for the following characteristics: headquarters in San Diego, active involvement in promoting women and gender equality through specific programs, initiatives, and corporate practices. The initial list of ten companies encompassed various companies that are part of the health and STEM sectors, including tech, biotech, MedTech, and the energy sector. After identifying these top ten companies suggested by Chat GPT, we conducted our own web-based research to determine if these companies fulfilled the most important guideline of all - possessing strong female representation within top leadership positions. We reviewed both the C-Suite and the Board of directors, and our final selection criteria focused on representation of women in the C-suite of the top organizations.   After thoroughly analyzing these companies our top ten was soon condensed down to a top five that met the identified criteria.

Top San Diego Companies:

After careful consideration and meticulous research, we’ve narrowed our top ten down to top five based on our required criteria. In order of highest percentage of women represented within C-suite positions (from highest to lowest): 

1. Teradata: 62.5%

2. UC San Diego Health 48.3% 

3. Illumina:43%

4. Sempra: Executive: 42%

5. ResMed:25%

As we delved deeper into the specific efforts of these companies, Teradata stood out as a prime example of how tech leaders can drive meaningful change in gender equity, setting the stage for broader industry transformation. Teradata, a leading provider of database and analytics-related software, products, and services, has made significant strides in promoting gender equity within the tech industry. In an industry where women are still vastly underrepresented—making up only 27% of the computing workforce and holding just 24% of executive (c-suite) positions, according to a 2023 report by the National Center for Women & Information Technology.⁸ Teradata’s proactive efforts stand out as a beacon of progress.

Remarkably women make up 62.5% of Teradata's C-Suite and lead executive roles, a significant achievement in an industry traditionally dominated by men.⁹. Women are exceeding the industry standard and hold 3 out of 9, or 33%, of the seats on Teradata's Board of Directors, ensuring diverse perspectives in the company's governance.¹⁰ This balanced leadership reflects the company's commitment to diversity and inclusion, with their female executives playing pivotal roles in shaping Teradata’s strategic direction and fostering a culture of innovation. Teradata also collaborates with organizations such as Anita B.org, which focuses on advancing women in technology.¹¹

Teradata’s efforts to lead by example in gender equity were recently highlighted at the UBS Women in Tech Summit on June 12, 2024. During the summit, Teradata presented a webcast showcasing the company’s ongoing initiatives and progress in creating a more inclusive work environment.¹²  This public commitment to fostering gender diversity underscores the company’s dedication not only to achieving internal equity but also to contributing to the larger industry goal of closing the gender gap in tech. 

Next on the list is UC San Diego Health, a leading academic health system in Southern California, is making significant strides in promoting gender equity within the healthcare sector. Despite the higher overall gender diversity in healthcare, challenges persist, particularly in leadership roles. The World Health Organization reports that while women make up nearly 70% of the global health and social workforce, they occupy only about 25% of senior roles.¹³

UC San Diego Health is actively addressing these disparities, with women constituting 48.3% of its executive leadership team, including CEO Patty Maysent.¹⁴ This notable representation reflects the institution’s commitment to gender equity at the highest levels of leadership. The executive team’s focus on innovation, inclusivity, and patient-centered care is driving the organization’s strategic vision.

To support and advance women within the organization, UC San Diego Health has implemented several leadership programs and initiatives aimed at fostering growth into senior roles. They have collaborations with national organizations, such as the American Medical Women’s Association (AMWA) which provides resources to pre-med students.¹⁸ UC San Diego Health has also established the Women in Health Sciences (WIHS) Committee which focuses on creating a fair and equitable environment for women and further highlights their dedication to gender equity.¹⁹ These partnerships are instrumental in providing networking opportunities, mentorship, and professional development for women in healthcare, further reinforcing UC San Diego Health’s role as a leader in promoting gender equity in the industry

Illumina was next in the list and part of our top three companies with 43% of women represented within their C-suite positions, six out of fourteen members are women to be exact. The C-Suite titles held by women within this executive team include: Chief Information Officer, Chief People Officer, Head of Region—Americas, and Vice President of Investor Relations, among others.¹⁵ The board of directors also holds an impressive value at 36%, with four out of eleven women claiming a position.

Sempra was listed as top three out of the five companies, with an inspiring 42% of women representing positions within C-suite, eight out of nineteen individuals to be accurate. These titles include Chief Financial Officer, Chief Legal Counsel, Senior Vice President Corporate Affairs, Vice President, Investor Relations, and Vice President, People and Culture and Chief Diversity Officer.⁹ Women are also highly represented within Sempra’s board of directors at 36%.

And finally, ResMed rounds out the top five list with 25% of women possessing executive leadership roles within their C-suite, four women out of sixteen representatives. These titles include Chief Marketing Officer, Chief Quality Officer, Chief people officer, and Chief Investor Relations Officer.¹⁰ Their board of directors is slightly higher at 30% women filled positions, three women out of a group of ten individuals.

The companies listed have demonstrated a strong commitment to gender diversity and inclusion, particularly in their efforts to elevate women into leadership positions. From innovative mentorship programs to groundbreaking diversity initiatives, these organizations are setting a new standard for what it means to support women in the workplace.

Conclusion:

The commitment to gender diversity and inclusion demonstrated by these top companies is paving the way for a more equitable future in leadership. By prioritizing female representation in C-suite roles, these organizations are not only addressing gaps in the talent pipeline but also setting a powerful example for others in their industries. From tech to energy, these companies are proving that progress is possible when gender equity is prioritized. As we continue to spotlight these leaders, we hope to inspire broader change and empower the next generation of women in leadership.

References:

1.       Gender Diversity in the C-Suite: Gabrielle Lieberman, Russell Reynolds Associates, Wednesday, February 22, 2023 https://corpgov.law.harvard.edu/2023/02/22/gender-diversity-in-the-c-suite/

2.       Women Are Still Underrepresented in Leadership and the Technology, Information, and Media Industry : Matthew Baird, Published on LinkedIn, March 7, 2023 https://economicgraph.linkedin.com/blog/women-are-still-underrepresented-in-leadership-and-the-technology-information-and-media-industry#:~:text=This%20industry%20suffers%20from%20underrepresentation,as%2020%25%20for%20CXO%20positions.

3.       33+ Must-Know Women in Tech Statistics for 2024: Komron Rahmonbek. Published on Strongdm, July 18, 2024. https://www.strongdm.com/blog/women-in-tech-statistics

4.       Women in Biotech: UK Biotech Industry Association: https://www.bioindustry.org/growing-sector/women-in-biotech.html

5.       What Makes a Transformative Med Tech Leader? Luna Corbetta, Edyta Reid. Published on pwc website blog, December 8, 2023 https://www.pwc.com/us/en/industries/health-industries/medical-technology/women-in-medtech.html

6.       Gender diversity in the United States energy workforce: Cutler Cleveland. Published in Boston University Institute for Global sustainability, January 2, 2024 https://visualizingenergy.org/gender-diversity-in-the-united-states-energy-workforce/#:~:text=Gender%20diversity%20in%20the%20United%20States%20energy%20workforce%2C%202022&text=The%202023%20report%20indicates%20that,half%20in%20the%20overall%20economy

7.       Women in Energy: More utility leadership roles, but parity remains far off. Anna Duquiatan. Published in S&P Global Insight blog, September 28, 2023. https://www.spglobal.com/commodityinsights/en/market-insights/blogs/electric-power/092823-women-in-energy-more-utility-leadership-roles-but-parity-remains-far-off

8.       By The Numbers, National Center for Women and Information Technology https://ncwit.org/resource/bythenumbers/

9.       Teradata Leadership team: https://www.teradata.com/about-us/leadership

10.   Teradata Board of Directors: https://www.teradata.com/about-us/corporate-governance/board-of-directors

11.   AnitaBorg website: https://anitab.org/

12.   Teradata to present at UBS Women in Tech Summit. RTT News published on Nasdaq website, June 12, 2024. https://www.nasdaq.com/articles/teradata-present-ubs-women-tech-summit-webcast-11-00-am-et 

13.   Closing the Leader Gap: Gender equity and leadership in the global health and care workforce. Policy publication, June 7, 2021 https://www.who.int/publications/i/item/9789240025905#:~:text=Based%20on%20data%20available%20in%202021%2C%20women,had%20an%20equal%20say%20in%20decision%20making.

14.   UC San Diego Health’s leadership team:  https://health.ucsd.edu/about-us/leadership/

15.   Illumina management team: https://www.illumina.com/company/about-us/management-team.html

16.   Sempra’s management team: https://www.sempra.com/about/people/leadership-team

17.   ResMed’s executive team: https://www.resmed.com/en-us/executive-team/

18.   UCSD’s Center for Student Involvement’s AMWA page: https://studentorg.ucsd.edu/Home/Details/16526

19.   UCSD’s Women in Health Science Committee: https://wihs.ucsd.edu/