Authorizing Council's Committee on Commerce and Economic Development to hold hearings examining the level of female participation on executive boards in companies that contract with the City of Philadelphia.

WHEREAS, The Forum of Executive Women is a Philadelphia based membership organization of 300 women of influence in the Greater Philadelphia region; and

WHEREAS, The Forum leverages the power of executive women in the region to expand the impact and influence of women leaders; and

WHEREAS, The perspective of women in business plays a critical role in the ultimate success of a company; and

WHEREAS, In the 2009 book,

Women-omics

, by Claire Shipman and Katty Kay, studies show that companies with a higher percentage of women are more profitable than those with a lack thereof; and

WHEREAS, The most recent study by the Forum of Executive Women showed that despite representing more than half of the population, women comprised only 10 percent of all executive board seats in Philadelphia's top 100 companies, 5.75 percent of all top earners and 10 percent of all directors of companies; and

WHEREAS, A leading indicator of a company's prevailing attitude toward the inclusion, promotion and advancement of opportunities for women in the workplace is the make up of their executive board; and

WHEREAS, The City of Philadelphia awards contracts for numerous services to many of the top 100 companies in the Greater Philadelphia region, many with a lack of female leadership as represented by their executive boards; and

WHEREAS, Council wishes to ensure that all companies that receive City contracts take a pro-active role in producing boards that are more reflective of the population demographics of the City and reflect the growing number of women in the workplace; therefore, be it

RESOLVED, BY THE COUNCIL OF THE CITY OF PHILADELPHIA, that Council hereby authorizes the Committee on Commerce and Economic Development to hold hearings examining the level of female participation on executive boards in companies that contract with the City of Philadelphia.

End