• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

Egg companies made $1.22 billion in profit off a $6 carton — now they’re buying their way out of a price-fixing case with 53 million donated eggs

2

Meet the Zillennials: The luckiest micro-generation in the workforce, born between 1993 and 1998

3

Economists have found an answer to slowing cognitive decline: Avoid retiring early, study finds

1

Egg companies made $1.22 billion in profit off a $6 carton — now they’re buying their way out of a price-fixing case with 53 million donated eggs

2

Meet the Zillennials: The luckiest micro-generation in the workforce, born between 1993 and 1998

3

Economists have found an answer to slowing cognitive decline: Avoid retiring early, study finds
MPWMastering the Journey

Exclusive: This is the type of business most likely to promote women leaders

By
Gwen Moran
Gwen Moran
Down Arrow Button Icon
By
Gwen Moran
Gwen Moran
Down Arrow Button Icon
June 18, 2015, 3:30 PM ET
505636987
Going over the figuresPhotograph by Getty Images
Add Fortune on Google for similar content.

Ever thought about going into business with your family? Maybe you should.

While women remain consistently underrepresented in the upper management echelons of major companies, there is one sector where they’re leading in far greater-than-average numbers: family businesses. A new report by business consultancy EY and Georgia’s Kennesaw State University found that, globally, family-owned and family-controlled businesses have higher percentages of women in the c-suite—as well as in top management positions and on the board—than other types of companies.

But don’t think these are feel-good mom and pop shops. Those surveyed included 25 of the largest family businesses in each of the 21 top global markets representing an average of $3.48 billion in sales and 12,000 employees. In order to be eligible for the survey, a family had to control at least 50% of shares and voting rights in private companies, or 32% of public companies.

Among some of the survey’s specific findings:

  • Family-owned and family-controlled businesses average about five women in the c-suite and four women being groomed for top leadership positions. A whopping 70% were considering a woman as their next CEO. Meanwhile, just 5% of Fortune 1000 CEOs are women and the Strategy& (formerly Booz & Co.) 2015 Study of CEOs, Governance and Success, found that women made up 5% of the incoming class of CEOs at the world’s top 2,500 publicly traded companies in 2014.

 

  • The surveyed family businesses’ top management teams averaged 22% women. A 2014 report from the Credit Suisse Research Institute, the CS Gender 3000: Women in Senior Management, found that women’s participation in top management was just 12.9% globally at the end of 2013.

 

  • Fifty-five percent of the companies surveyed have at least one woman on their boards, and, in general, boards of these companies averaged 16% women. Eight percent of boards had at least half women members. That’s mixed news compared to other reports. Comparatively, the 2014 Catalyst Census: Women Board Directors found that women sit in 19.2% of U.S. publicly indexed companies’ board seats, 35.5% of Norway’s (the highest in the Catalyst analysis), but just 3.1% of Japan’s and 9.5% of India’s.

 

More than nepotism

These being family businesses, there’s almost certainly some nepotism in play. However, the survey indicated that is not just female family members who benefit. While surveyed companies averaged more than one family member in leadership, the also averaged 3.5 women in the c-suite who were not family members.

In leadership succession planning, surveyed companies were training an average of one family member and three non-family members who were women to take on leadership roles in the future. Carrie Hall, EY Americas Family Business Leader, says she was surprised that nepotism didn’t play a more significant role.

“I’m certain there were some that had an easier transition into the role because of their family heritage, but there’s three more that came from outside the family,” she says.

Three key factors

Why do these companies report more inclusion? EY identifies three possible reasons:

Long-term thinking. While the median CEO tenure of the 500 largest companies in the U.S. is 4.9 years, Forbes recently reported that the CEOs of the 100 largest family businesses have already served 13 years on average. Ultimately, the goal of a family business is typically longevity, which trumps gender, says Hall.

Role models. When women occupy top posts, it shows that advancement is possible. The businesses surveyed tended to have more women in the c-suite, bolstering aspirations and busting gender stereotypes.

Environment. People and profits often blend in family businesses, balancing the interests of family with the needs of the business. Hall says that culture often has an impact on how non-family members are treated, including their ability to advance within the organization.

“Perhaps they’re not pressured by public shareholders and the need to be conventional in the term of leadership that the board might impose. They’ve really just got the freedom to choose the best person for the role irrespective of gender,” Hall says.

Update: This article has been corrected to reflect accurate statistics from Strategy&. The company found that women made up 5% of the incoming class of CEOs at the world’s top 2,500 publicly traded companies, not sitting CEOs of those companies.

 

About the Author
By Gwen Moran
See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in MPW

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in MPW

How a third-generation Texas oilman transformed an organic farming company into a leading advanced nuclear startup at a small Christian college
EnergyNuclear
How a third-generation Texas oilman transformed an organic farming company into a leading advanced nuclear startup at a small Christian college
By Jordan BlumJuly 4, 2026
6 hours ago
JPMorgan built a pipeline of female CEO candidates that was the envy of Wall Street. How did it fall apart?
MPWMost Powerful Women
JPMorgan built a pipeline of female CEO candidates that was the envy of Wall Street. How did it fall apart?
By Emma HinchliffeJuly 4, 2026
6 hours ago
Most cancer philanthropy funds research. This winery cofounder is paying for the caregivers and chair lifts families can’t afford
Successphilanthropy
Most cancer philanthropy funds research. This winery cofounder is paying for the caregivers and chair lifts families can’t afford
By Sydney LakeJuly 3, 2026
1 day ago
ice
PoliticsImmigration
ICE arrested a woman in a habit walking to mass, then released her after realizing she was a nun
By Valerie Gonzalez and The Associated PressJune 30, 2026
4 days ago
MacKenzie Scott (left); Elon Musk (right)
SuccessMacKenzie Scott
Elon Musk on MacKenzie Scott giving away $26 billion of her fortune: ‘Sadly,’ it makes the world a worse place
By Sydney LakeJune 29, 2026
5 days ago
swisher
Politicspodcasts
‘Podcasts are the NBA’: Scott Galloway on Kara Swisher’s big success — ‘there’s a small amount of people making a lot of money’
By Steven Sloan and The Associated PressJune 29, 2026
5 days ago

Most Popular

Egg companies made $1.22 billion in profit off a $6 carton — now they’re buying their way out of a price-fixing case with 53 million donated eggs
Law
Egg companies made $1.22 billion in profit off a $6 carton — now they’re buying their way out of a price-fixing case with 53 million donated eggs
By Wyatte Grantham-Philips and The Associated PressJuly 2, 2026
2 days ago
Meet the Zillennials: The luckiest micro-generation in the workforce, born between 1993 and 1998
AI
Meet the Zillennials: The luckiest micro-generation in the workforce, born between 1993 and 1998
By Nick LichtenbergJuly 3, 2026
1 day ago
Economists have found an answer to slowing cognitive decline: Avoid retiring early, study finds
Economy
Economists have found an answer to slowing cognitive decline: Avoid retiring early, study finds
By Sasha RogelbergJuly 2, 2026
2 days ago
On Wall Street, analysts increasingly don’t believe the U.S. government’s 'misleading' job numbers
Economy
On Wall Street, analysts increasingly don’t believe the U.S. government’s 'misleading' job numbers
By Jim EdwardsJuly 3, 2026
1 day ago
$25 billion CEO says one-hour interviews are a waste of time—he puts candidates through six hours of tests and wants them to order wine at lunch
Success
$25 billion CEO says one-hour interviews are a waste of time—he puts candidates through six hours of tests and wants them to order wine at lunch
By Orianna Rosa RoyleJuly 3, 2026
1 day ago
In Iran, regime officials who survived the war intended to kill them appear in public for dayslong funeral of the late Supreme Leader Khamenei
Politics
In Iran, regime officials who survived the war intended to kill them appear in public for dayslong funeral of the late Supreme Leader Khamenei
By Nasser Karimi, Jon Gambrell and The Associated PressJuly 3, 2026
1 day ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.