“Having industry-leading companies like Exabeam support the goal of increasing diversity in the boardroom is critical to really pulling our mission forward,” said Rita Scroggin, founder of FirstBoard.io. “We are grateful to have an exceptional veteran executive like Exabeam CMO Sherry Lowe as a founding member. Sherry is committed to FirstBoard.io’s mission to find opportunities for women leaders ready to offer their extraordinary skills and experiences to tech industry boards.”
In partnership with several leading companies, FirstBoard.io focuses on removing persistent obstacles that have prevented women from being chosen for executive boards and the C-suite, and by doing so, fosters greater success for companies across the tech industry.
The numbers speak for themselves. Higher corporate financial performance has continually been attributed to greater diversity in both management and board-level seats. Credit Suisse Research Institute found that shares of companies with more than 20% female management outperformed organisations with less than 15% female management by 5%. In addition, a study published in the Harvard Business Review noted that after companies appointed women to the C-suite, openness to change increased by 10%.
Yet, until a mandatory diversity requirement is enforced, the default choice to fill the boardroom or the C-suite remains white men. Beyond exclusion, contributing to the challenges for women leaders to be chosen for board seats is, in general, a lack of visibility of the women who are ready for the roles.
“As women, we are responsible for helping other women rise through the corporate ranks,” said Lowe. “Exabeam has established programs explicitly for recognising women leaders, and that is why our sponsorship of FirstBoard.io is a great fit. I believe in this mission, and we are committed to elevating women leaders and highlighting the value they can bring to the boardroom and the C-suite.”
While the tech industry has made some strides to improve diversity and inclusion practices, there is far more work to be done. Chief marketing officer (CMO) positions across industries are largely held by women, for instance. In fact, 14 women round out the top 25 of Forbes’ Most Influential CMOs list, yet CMOs are often missing from technology company boards.
Lowe continued, “The benefit of having female board members is obvious in that they bring different perspectives and skill sets required for real success. If you only hire one type of person, you will only get one type of view of the world. People of all backgrounds and perspectives are needed, along with representation of all functional areas across the business. Board meetings are more effective when the people in the room also understand what it takes to run an effective global marketing program, which is directly interconnected with how to strengthen the company’s external brand and culture for both moral and long-term recruitment purposes.”
Exabeam fosters a corporate culture that champions women, men, and diversity for all. This sponsorship is the latest addition to the Exabeam Cares program, dedicated to improving local and global communities through investing in give-back programs, primarily focused around education and diversity. The overarching program also partners with the ExaGals program, which focuses on supporting and empowering the women of Exabeam, as well as women in the technology community at large, with career development, education and personal growth opportunities.
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