Introducing the 2024 CWCC Women on Colorado Boards Report

The Colorado Women’s Chamber of Commerce (CWCC) is proud to present the 2024 Women on Colorado Boards Report, a comprehensive analysis tracking the representation of women on corporate boards across Colorado’s 75 public companies. This critical research provides valuable insights into both our progress and the work that still lies ahead in achieving gender diversity in corporate leadership.

Where We Stand Today

Our findings mark both milestone achievements and urgent calls to action. Women now hold 29.1% of corporate board seats in Colorado, with 195 women serving in 671 total board positions. While this represents significant progress—women’s representation on boards in Colorado has nearly tripled over the past decade from just 10.6%—it still falls short of reflecting the qualified talent pool of women leaders in our state.

The distribution of women directors shows a complex picture:

• 98% of companies have achieved basic gender diversity with at least one woman director
• Only 6.6% of companies have achieved true gender balance with equal representation
• 19% of companies have substantial female representation with more than four women directors
• The majority (39%) have just two women serving on their boards

This clustering around minimal representation suggests many companies may be satisfied with token representation rather than striving for genuine gender balance in their leadership.

Industry Leaders and Laggards

Our sector analysis reveals important trends: Financial Services leads with 35% women directors, while Communication Services lags at 22%. These disparities underscore a crucial truth: achieving meaningful representation requires more than good intentions—it demands strategic commitment and intentional action.

Leading companies like Summit Materials (54% women), RE/MAX Holdings (50%), and Vail Resorts (50%) demonstrate that gender parity is not only possible but advantageous for business success. CWCC member companies are setting strong examples, with DaVita (40%), Newmont (38%), and Western Union (36%) showing how intentional inclusion strategies drive progress.

Moving Forward: The Colorado Action Plan

To accelerate change, we’ve developed a comprehensive Colorado Action Plan with five key strategies:

1. Board Assessment & Planning: Conduct skills matrix analysis, set specific diversity targets, and create succession plans incorporating diversity goals
2. Pipeline Development: Partner with executive search firms specializing in diverse candidates and create sponsorship programs for senior women executives
3. Policy Implementation: Adopt formal board diversity policies and implement structured interview requirements
4. Industry Collaboration: Share best practices across companies and create industry-specific talent pools
5. Structural Changes: Review board refreshment policies and consider board size expansions

Why This Matters

As our CEO, Simone D. Ross, notes in the report, “As Colorado strengthens its position as a hub for innovation and economic growth, the imperative for diverse board leadership has never been clearer. These disparities underscore a crucial truth: achieving meaningful representation requires more than good intentions. It demands strategic commitment, intentional action, and sustained engagement from our entire business community.”

The business case for gender diversity in leadership is well-established. Research consistently shows that companies with diverse leadership teams outperform their less diverse counterparts in profitability, innovation, and risk management. But beyond the business case, there’s a fundamental question of equity and utilizing our full talent pool.

Join Us in Creating Change

The Colorado Women’s Chamber of Commerce invites you to use this report as both a benchmark and a catalyst for the systemic change we all know is necessary. Together, we can shape a future where women don’t just have a seat at the table—they are leading the way.

Learn more about the full report and how your organization can advance women’s leadership here. 

The Women on Colorado Boards Report, formerly managed by Boardbound by Women’s Leadership Foundation, is now led by the Colorado Women’s Chamber of Commerce. CWCC is dedicated to advancing women in business and promoting equity in the workforce.