Financial thoughts

North Carolina corporate boards have fewer women and minority members than those of the Fortune 100, a fact that hasn’t escaped the notice of state Treasurer Janet Cowell.

As a remedy, Cowell is encouraging lawmakers, business executives and minority leaders to participate in the Director Diversity Initiative, DDI, at the University of North Carolina School of Law.

It’s a joint project of the Center for Banking and Finance and the Center for Civil Rights at UNC Law.

According to a recent survey conducted by the school, female members, in 2009, held 12 percent of NC board seats and minority members 7.1 percent of seats.

By contrast, woman accounted for 17.6 percent of Fortune 100 boards (in a 2006 study) and minorities, 15 pay day advance.4 percent.

North Carolina’s population is 51 percent female and 32 percent minority according 2008 census data.

Cowell says women currently make up 25 percent, and minorities 18 percent, of the various pension system boards and commissions she manages.

“The Department of State Treasurer continues efforts to diversify our own boards,” says Cowell. “Additionally, as institutional investors, we are encouraging North Carolina corporations to have boards that match the diversity of our state.”

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