Tower Miller XRite Make MVP List

October 17, 2003
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DETROIT — Ten Michigan companies have earned “Most Valuable Player” recognition in the 2003 Michigan Women’s Leadership Index.

The Center for the Education of Women at the University of Michigan developed the index on behalf of the Women’s Leadership Forum, the research and education arm of the Women’s Economic Club.

The Women’s Leadership Index is the first statewide ranking of its kind.

The U-M group looked at the 100 largest publicly held companies headquartered in Michigan and developed a ranking formula that was based on the number of women holding top-five officer and board of director positions.

The research breaks companies down into three separate groups: Group I includes Fortune 500 companies; Group II includes companies with annual revenues of $100 million or more but that are not Fortune 500 companies; Group III included companies with annual revenue under $100 million.

The top 10 scoring companies stood out because of multiple female executives among the top five officers and the percentage of women on the boards.

The Top 10 “Most Valuable Players” identified were:

  • Group I: Border’s Group Inc.

  • Group II: Tower Automotive Inc.; Herman Miller Inc.; Compuware Corp.; and Flagstar Bancorp Inc.

  • Group III:  X-Rite Inc.; FNBH Bancorp Inc.; Energy Conversion Devices Inc.; Somanetics Corp.; and Pavilion Bancorp.

“We salute the 10 Michigan companies where women’s leadership is clearly valued at the top,” said Terry Barclay, president and CEO of the Women’s Leadership Forum. “However, we believe the time has come for a realistic look at the levels of executive leadership women have achieved and the reasons why their leadership influence is still so rare at the top, even today.”

The research revealed that in the 100 companies studied:

  • Women executives hold 7.1 percent of the top five compensated officer positions and 9.6 percent of the seats on corporate boards.

  • Some 76 percent of companies have no women executives among their top five officers.

  • Less than 25 percent of companies have more than one female board director.

  • Larger companies are more likely to have more female directors than smaller companies and smaller companies are more likely to have more females serving as top officers.

U-M is scheduled to release the full results of the study today at a luncheon in Detroit.           

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