Title
Authorizing Council's Committee on Commerce and Economic Development to hold hearings examining the level of female participation on executive boards in companies that do business in the City of Philadelphia.
Body
WHEREAS, On February 12, 2012, Patricia Coulter, President of the Urban League of Philadelphia, wrote an Op-Ed article in the Philadelphia Tribune addressing the need for diversity on corporate boards in the City of Philadelphia; and
WHEREAS, In the 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, A 2009 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.
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