Fourth Quarter 2025 Key Findings
In collaboration with our Exclusive Data Partner, Equilar, our most recent analysis of Russell 3000 Index companies indicates that women continue to hold 30.0% of corporate board seats, a marginal decrease that is essentially unchanged from the previous quarter. In Q4 2025, the index included 2,878 active companies. During the quarter, board composition changed by 95 seats, reflecting newly added seats and director replacements. Women gained 90 seats and lost 67, for a net increase of 23 seats, or 24% of the total change.
Nearly all seats gained by women (93%) were newly added board seats rather than women replacing male directors. Men also saw substantial turnover, losing 163 seats but gaining 235, for a net increase of 72 seats, or 76% of the total change. These patterns show that women’s progress still relies on expansion. As boards grow without proportional refresh, sustaining momentum toward parity becomes more challenging. This highlights the importance of intentional succession planning and board renewal to support long-term growth in rapidly evolving business environments.
of board seats are held by women.
of board appointments were women, with no change from the previous quarter.
of newly filled seats by women were added to boards.
Among the states with at least 25 Russell 3000 companies, Washington and Minnesota continue to lead, with women holding 35% and 34% of board seats, respectively. In California, home to the largest share of Russell 3000 companies, women hold 33% of board seats, positioning it above the national average and underscoring its outsized influence on overall progress. Nevada, Utah, and Pennsylvania continue to rank among the lowest, with women holding less than 27% of board seats, reinforcing that gender parity remains highly localized.
50/50 Women on Boards Gender Diversity Index ™ reports on the gender composition of corporate boards on the Russell 3000 Index. Using the data provided by our Exclusive Data Partner Equilar, we analyze, track, and publish data on our website in our Gender Diversity Directory. This report reflects data as of December 31, 2025, with 2,878 active companies on the Russell 3000 Index.
Advocate: Highlight and share your expertise for boards.
Invest: Request employer-funded programs to advance your board journey.
Network: Volunteer, join non-profit boards, attend events, and outreach to your contacts to ensure they are aware of the board opportunity you are seeking.
Be Intentional: Leverage our GDI directory to narrow down your board search.
Advocate: Highlight and share your expertise for boards.
Invest: Request employer-funded programs to advance your board journey.
Network: Volunteer, join non-profit boards, attend events, and outreach to your contacts to ensure they are aware of the board opportunity you are seeking.
Be Intentional: Leverage our GDI directory to narrow down your board search.
Advocate: Highlight and share your expertise for boards.
Invest: Request employer-funded programs to advance your board journey.
Network: Volunteer, join non-profit boards, attend events, and outreach to your contacts to ensure they are aware of the board opportunity you are seeking.
Be Intentional: Leverage our GDI directory to narrow down your board search.
