WILMINGTON, Del. — Oct. 19, 2021 — WomenExecs on Boards (WEoB), the global network of women who completed board governance programs at Harvard Business School and whose mission is to position qualified members to serve on boards through networking, peer support and education, today announced a strategic alliance with Mill Road Capital (MRC), a US-based investment firm with a 15-year track record of bringing private equity skills to the public markets.
The new alliance will support MRC’s recently launched Progressive Governance Fund, which invests in small publicly traded companies and works collaboratively with them to gain board representation, improve governance, enhance operations and create cultures of equity and inclusion. The new fund has committed that a majority of its board appointees will be women or people of color and a key element of its mission is to improve diversity throughout its portfolio companies.
The alliance is designed to expand and enrich MRC’s network with a high-quality source of current and potential women board directors as it works to bring greater gender, racial and ethnic equality and diversity to the boards of its target companies. For WEoB, the alliance provides opportunities to access board roles in smaller publicly traded companies in the US where boards are typically less diverse.
“Through WEoB’s network of hundreds of board-ready professionals, around 70% of whom are currently serving or have served on a board, we now have the candidate pipeline to debunk the myth that there are not enough qualified women to satisfy today’s board roles,” said Thomas Lynch, MRC Senior Managing Director.
“We couldn’t be more excited and energized about this tie in with Mill Road which we believe will help support the creation and growth of a new asset class that can materially enhance opportunities for women and people of color, both in board rooms and across the senior ranks of corporate America,” said Rosie Bichard, WEoB co-President.
WomenExecs on Boards
WomenExecs on Boards (WEoB) is a global network of hundreds of women executives in over 25 countries. WEoB’s mission is to position women qualified through Harvard Business School’s corporate governance programs to serve on corporate boards through networking, support, and education. Founded in 2018, WEoB members serve on nearly 500 Boards globally. The membership group strives to help organizations achieve a competitive advantage through gender diversity and equality which fosters stronger corporate governance and bottom-line results. Publishing on October 19, The Courage To Advance: Real Life Resilience From the World’s Most Successful Women in Business was authored by WEoB co-founders and features some of its members.
Mill Road Capital
Mill Road Capital is a private investment firm focused on investing in and partnering with small publicly traded companies in the US and Canada. Since its founding in 2004, the firm has successfully executed its investment strategy of identifying and partnering with management teams that are focused on long-term value creation. The limited partners of Mill Road’s funds include a prominent and highly respected group of state and corporate pension funds, foundations, and endowments. Mill Road’s current portfolio consists of companies in a broad range of industries, including retail, manufacturing, business services, and consumer products.