Worcester Business Journal

8 Worcester Business Journal | February 17, 2020 | wbjournal.com FOCUS W O M E N I N L E A D E R S H I P Aer Central Mass. took a small step forward last year in women leadership of top business organizations, the region regressed slightly Two steps forward, one step back BY GRANT WELKER Worcester Business Journal News Editor P rogress comes slow with gen- der diversity among business leadership. Sometimes it doesn't come at all. In 2019, a Worcester Business Jour- nal investigation into the gender breakdown of the leadership at 75 Central Massachusetts prominent business organizations found a low but not unusual number: 35% of executives and board members were women, which was an increase from 33% in 2018 when WBJ first performed the investigation. is year? 34% are women, a slight step backward. The Boardroom Gap FIRST IN A 3-PART SERIES For the third year, WBJ has reviewed nearly 1,600 professionals in positions of power at Central Massachusetts public and private companies, colleges, hos- pitals, financial institutions and social service nonprofits. e results are on par with state and national figures, but not where advocates say such organizations should be for better diversity. "We've been very patient, and women and people of color are not willing to wait any longer," said Andrea Silbert, the president of the Eos Foun- dation, a Massachusetts equality group. Women are far more likely to be in positions of power in nonprofits such as at a Boys & Girls Club or a United Way, or in higher education. In fact, four of Central Massachusetts' 15 colleges are female-led: Anna Maria College, Becker College, Nichols College and Worcester Polytechnic Institute. e region's healthcare industry mir- rors the overall trend, as top organiza- tions are 34% women in their leadership ranks, with some hospitals outperform- ing. Milford Regional Medical Center, for example, has women in half of its 10 leadership roles. e Milford hospital has prioritized having a diverse team bringing differ- ent viewpoints, but it hasn't been at the expense of having the best person in the job, said Edward Kelly, Milford Region- al's president and CEO for more than five years. "For us, it's always really about hiring the right person. It just works out that right now our leadership team is 50- 50," Kelly said. "It's a tough business, so having a qualified person is really important." But to find a woman in such a spot at a public company traded on the likes of the New York Stock Exchange or Nasdaq is very unlikely, in Central Massachusetts and beyond. One out of five executives and board members at the region's 16 public companies is a woman. Insulet, a medical equipment maker in Acton, isn't just the only female-led pub- lic company in Central Massachusetts, its Shacey Petrovic is the only female CEO among the top 25 largest public companies in the state, a fact highlighted in a February report by the nonprofit Eos Foundation. Seeing good and bad is year's report, like others, finds both bright spots and discouraging numbers. First, the bad news: In addition to In- sulet being the one of 16 public Central Massachusetts companies led by a female executive, two – SeaChange Interna- tional and Psychemedics, both of Acton – have no female board members or top executives. Among all 75 institutions analyzed, seven had no female board members. And 31 had women in fewer than one out of four executive or board seats. But there are some places where wom- en are combining to lead organizations, and other indications of progress. e Boys & Girls Club of Worces- ter, for example, has women in all top leadership roles. Executive Director Liz Hamilton appointed them. "roughout my life, I have had mentors who provided opportunities for me to lead," Hamilton said. "As the leader of my organization, I work to create a culture that encourages, challenges and supports my team to reach their full potential. "As a woman, I believe I have the responsibility to mentor and support the incredible upcoming and current women leaders I am fortunate to work or be associated with," Hamilton said. Hologic, a publicly traded medical de- vice manufacturer in Marlborough, has three women on its board and among its executive ranks. CEO Stephen MacMil- lan highlighted what he called a stark difference at the firm's headquarters from when he started in 2013. Back then, he said in a public letter in January, every member of the senior management team he inherited was a white man. Since then, women have been ap- pointed to the roles of CFO, senior vice president of human resources, chief information officer and chief of staff. Hologic's finance team has not typically been a stronghold for women, MacMil- lan said, but today they make up nearly half of its leadership team. Hologic doesn't set diversity targets or quotas, he said, and uses customized as- sessment tools to eliminate bias in hiring. "ese tools are blind to gender and race, which enables us to focus on the potential for performance," he wrote in the January letter. "And it's performance that drives compensation, which our analysis has shown is equitable between men and women." Continued on Page 10 The Boys & Girls Club of Worcester leadership (from left) Leah Motsis, Judi Kirk, Liz Hamilton, Joanne Fowling, Carmen Sanchez and Beverly Simpson. PHOTO/EDD COTE

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