Worcester Business Journal

wbjournal.com | February 19, 2018 | Worcester Business Journal 9 Join us for professional development workshops, networking, boutique shopping, and keynote speakers: Co-founders of Wicked Good Cupcakes Mother-and-daughter entrepreneurs Tracey Noonan and Dani Vilagie, as seen on ABC's Shark Tank. *$10 for all students Keynote Speakers: Tracey Noonan and Dani Vilagie EWIB@nichols.edu | 508.213.2443 | www.empowering-women.biz | Fewibc | t @nc_ewib REGISTER NOW! SEATS ARE LIMITED www.empowering-women.biz We invite you to our 8th annual Thursday, March 22, 2018 12:45 pm - 6:00 pm Center Road Dudley, MA #EWIB2018 R E F R E S H M E N T S I N C L U D E D 30 $ 30 $ ONLY T O A T T E N D * wickedgoodcupcakes.com Michael Angelini "There's a high level of consciousness that diversity on boards – diversity in every way – is desirable." P H O T O / N A T H A N F I S K E "I think these are fine candidates, but think of the message you're sending to everyone in your firm," Nitsch recalled saying. "No one had realized that they had done it." The chairman of the Pennoni board, company founder Chuck Pennoni, has had a close look at changing dynamics on boards through decades of serving as a director. Pennoni, 80, said he's served on 45 public and private boards, and chaired half of them. "The old adage of the smoke-filled rooms was true. I remember going into a room where it was all men smoking cigars," he said. "Those days are gone. I remember the three-martini lunch days. Those days are gone too." Diversity has become a goal of boards everywhere, and a dynamic between the genders has changed recently too, Pennoni said. "I have not been on a board in the last 25 years where the discussion of diversi- ty hasn't been significant," he said. Michael Angelini, chairman at the Worcester law firm Bowditch & Dewey and a member of the Hanover Insurance Group board of directors, said he's seen a major shift in how boards operate in the quarter-century he's served in that role for various organizations. "There's a high level of conscious- ness that diversity on boards – diversi- ty in every way – is desirable," said Angelini, who added having a mix of genders, races, cultural backgrounds and competing thoughts benefits an institution. Angelini, who said he's served on 15 to 20 boards during his career, said boards today are far more about debat- ing and deliberating than they were in the past about rubber-stamping and glad-handing. "Boards act much more inclusively, much more cooperatively, more much collegiately than they used to," he said. "These are serious jobs with serious responsibilities. It's no longer a club." Rate of new directors who are women 19% 26% 32% 36% Rate of all directors who are women 12% 17% 21% 22% Boards with at least one woman 91% 91% 99% 99% CEOs who are women 3% 4% 5% 6% Progress among industry leaders 2013 2014 2015 2016 Female representation in business leadership has steadily climbed among the S&P 500. Source: Spencer Stuart W

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