Hire Female Executives in the USA

No Quota Law in the US — but Board Expectations Haven't Gone Away

Unlike Europe, the United States has no binding gender quota for boards or executive teams: California's quota law was struck down in court, and the Nasdaq board diversity rule was vacated in December 2024. What remains is a market standard. Around a third of S&P 500 board seats are held by women, the vast majority of large-cap boards sit at or above 30%, and proxy advisor Glass Lewis still recommends against nominating committee chairs of Russell 3000 boards below that line. In the US, board composition is a governance and competitiveness question — not a compliance one.

At Female Executive Search, we help US businesses strengthen their boards and leadership teams with genuinely qualified female executives — leaders selected on competence and fit, who strengthen your business and its governance. Whether you are looking to fill a CEO, CFO, board or executive committee role, our tailored search process connects you with vetted female executives across all major industries.

Explore the profiles of top female executives in the USA below, or read on for where board expectations in the US actually stand.

Recruit Female Executives in the USA

Board gender expectations in the US: the actual state of play

No quota law — and how that came about

California was the first US state to legislate a board gender quota (SB 826, 2018), requiring listed companies headquartered in the state to include one to three women depending on board size. In 2022, a California court ruled the law unconstitutional under the state constitution's equal protection clause. At federal level, Nasdaq's board diversity rule — a comply-or-explain disclosure standard, not a quota — was vacated by the Fifth Circuit Court of Appeals in December 2024, which held that the SEC had exceeded its authority in approving it. As of 2026, no binding board gender requirement exists anywhere in the United States; a handful of states, such as Illinois and New York, maintain disclosure-only obligations.

What replaced regulation: the market norm

Removal of mandates did not remove expectations — it relocated them. Women hold roughly a third of S&P 500 board seats, and the vast majority of S&P 500 boards have at least 30% gender-diverse membership, which makes 30% the de facto market norm for large caps. BlackRock's 2025 stewardship policy removed its earlier numerical targets but expressly reserves the possibility of voting action where an S&P 500 board is an outlier relative to market norms. In other words: the norm itself now does the work the targets used to do.

Proxy advisors: split, not silent

The two major proxy advisors diverged in 2025–2026. ISS indefinitely suspended the use of board gender and racial/ethnic diversity as a factor in its US director vote recommendations. Glass Lewis, by contrast, maintained its policy: for Russell 3000 companies, its 2026 benchmark guidelines generally recommend voting against the nominating committee chair of a board that is not at least 30% gender diverse — while flagging diversity-related recommendations so clients can vote differently if they prefer. For boards below the 30% line, proxy season scrutiny has therefore not disappeared.

The strategic picture

US board demographic disclosure is declining, and the share of newly appointed female directors has fallen — which means the visible pool of board-experienced women is tightening precisely while the market norm holds at 30%+. For boards, that is a straightforward supply question: companies that identify and engage strong female director and executive candidates early will have their pick; those that start searching under proxy-season pressure will not. Research consistently associates well-composed, diverse boards with stronger governance outcomes — but the practical argument is simpler: the best boards recruit from the whole talent pool.

How Female Executive Search helps you build a stronger board and leadership team

Female Executive Search (FES), part of the CEO Worldwide group founded in 2001, specialises in identifying outstanding female leaders for board, C-level and executive committee roles. For searches in the United States we draw on a global pool of over 28,000 vetted executives across 183 countries, including a deep bench of US-based women leaders with public-company board, governance and P&L experience.

Our process is built for boards that want quality without a drawn-out search:

Recruit Female Executives in the USA

Frequently asked questions

Are there board gender quotas in the United States?

No. California's SB 826 quota law was ruled unconstitutional by a state court in 2022, and the Nasdaq board diversity disclosure rule was vacated by the Fifth Circuit Court of Appeals in December 2024. As of 2026, no binding gender quota applies to US boards. Some states, such as Illinois and New York, maintain disclosure-only requirements.

Do investors and proxy advisors still look at board gender composition?

Partly. ISS has indefinitely suspended diversity as a factor in its US director vote recommendations. Glass Lewis, however, still generally recommends voting against the nominating committee chair of Russell 3000 boards that are not at least 30% gender diverse under its 2026 benchmark policy. BlackRock removed its numerical targets but may take voting action where an S&P 500 board is an outlier relative to market norms.

What share of US board seats do women hold?

Women hold roughly a third of S&P 500 board seats, and the vast majority of S&P 500 boards have at least 30% gender-diverse membership. However, the share of newly appointed female directors has declined recently, and fewer companies are disclosing board demographics.

Why recruit female executives if there is no legal requirement?

Because the strongest boards recruit from the entire talent pool. A 30%+ gender-diverse board is the established market norm among large US companies, remains an expectation of a major proxy advisor, and gives boards access to experienced leaders that a narrower search would miss. Companies that build these relationships early choose from the best candidates rather than searching under pressure.

How quickly can FES present female executive candidates in the USA?

We deliver a shortlist of vetted, interested candidates within 7 to 10 days of engagement, drawing on more than 28,000 pre-vetted executives worldwide, including an extensive network of US-based female leaders with board and executive experience.

How is the FES fee structured?

Our fee is 25% of the gross annual salary of the position, paid in three milestone-based instalments: one third at engagement signing, one third at shortlist delivery, and one third when the candidate starts. Every placement carries a 6-month replacement guarantee.

Does FES only present female candidates?

FES specialises in identifying and assessing qualified female executives, giving clients access to senior female talent that traditional search often overlooks. All candidates are put forward on the strength of their competence and fit for the role.

References: Crest v. Padilla (California, 2022); Fifth Circuit ruling vacating the Nasdaq board diversity rule (December 2024); Glass Lewis 2026 US Benchmark Policy Guidelines; ISS 2026 US policy updates; BlackRock Investment Stewardship policy 2025. Statistics: Glass Lewis and Conference Board research, 2025–2026. Information current as of July 2026; this page is general information, not legal advice.