Granite and CEO Larkin Demonstrate Commitment to Accelerate Women’s Representation in Leadership

Rhea-AI Summary

Granite (NYSE:GVA) has committed to enhancing women's representation in leadership through its participation in the Catalyst CEO Champions for Change initiative. This program supports promoting women across various ethnic and racial groups into executive roles, with women now making up 27.9% of executives compared to 23% globally. A report showed that Champion companies, including Granite, promoted women at nearly equal rates to men in 2020. Additionally, women held 32.2% of board positions at these companies, exceeding the Fortune 500 average of 26.5%.

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• Granite is part of the Catalyst CEO Champions for Change initiative, promoting gender diversity in leadership.
• Women represent 27.9% of executives at Champion companies, outperforming the global average of 23%.
• Champion companies promoted women at nearly equal rates to men into senior leadership roles in 2020.
• 32.2% of board positions at Champion companies are held by women, higher than the 26.5% in the Fortune 500.
• Continued commitment to diversity, equity, and inclusion initiatives amid the pandemic demonstrates organizational resilience.

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WATSONVILLE, Calif.--(BUSINESS WIRE)-- Granite (NYSE:GVA) is proud to demonstrate its commitment to bringing more women into leadership as part of Catalyst CEO Champions for Change. These CEO champions continue to advance women in their organizations at every level across the leadership pipeline, particularly in the executive ranks—demonstrating their commitment to doubling down on diversity, equity, and inclusion (DEI) in the midst of a global pandemic and turbulent economy. According to the newly released Prioritizing Equity at a Pivotal Moment: The Catalyst CEO Champions For Change report, women represent 27.9% of executives at Champion companies, compared to 23% among their global peers.

Granite CEO Kyle Larkin and more than 70 other Champion CEOs pledge to advance women across ethnic and racial groups into leadership roles. For the first time since the initiative was launched in 2017, a subset of Champion companies provided metrics on promotions, revealing that in 2020, these companies promoted women at nearly equal rates to men. In fact, the group promoted women at slightly higher proportions than men into senior leadership positions.

“Granite is dedicated to ensuring that women have opportunities to lead, and we believe that the more we can do to include women in leadership, the stronger our company will be,” said Larkin. “The goals of Catalyst CEO Champions for Change align with our internal goal to increase women in leadership at Granite and in our industry.”

“We applaud Granite and Kyle, along with the other Catalyst Champion CEOs and their organizations for their continued commitment to DEI initiatives through the challenges of the pandemic,” said Catalyst President & CEO Lorraine Hariton. “It’s critical that we continue to develop the leadership pipeline for women, particularly women of color, if we’re going to see significant gains to build equitable and inclusive workplaces for women.”

The Champion companies also outpaced their peers in the Fortune 500 in women’s representation at the board of directors’ level at 32.2% compared to 26.5%. Women identifying with underrepresented ethnic or racial groups accounted for 7.5% of board members at Champion companies, compared to 5.7% at Fortune 500 companies overall.

This is an inflection point in the history of the women’s movement. Companies can address the disadvantages women endured because of Covid-19 by developing robust initiatives focusing on their re-entry, recruitment, advancement, and retention. The report highlights actions companies can take, including:

• Pinpointing their organization’s greatest areas of opportunity to advance women, particularly women identifying with underrepresented ethnic or racial groups.
• Creating customized solutions to foster equitable advancement, such as flexible work options and sponsorship programs.
• Tracking and measuring progress against defined goals.

Since Catalyst started collecting global data in 2018, Granite and the CEO Champion companies have collectively outpaced our global peers in the representation of women across the leadership pipeline. The Catalyst CEO Champions for Change companies represent more than 11 million employees and over $3 trillion in revenue globally.

About Granite

Granite is America’s Infrastructure Company™. Incorporated since 1922, Granite (NYSE:GVA) is one of the largest diversified construction and construction materials companies in the United States as well as a full-suite provider in the transportation, water infrastructure, and mineral exploration markets. Granite’s Code of Conduct and strong Core Values guide the company and its employees to uphold the highest ethical standards. Granite is an industry leader in safety and an award-winning firm in quality and sustainability. For more information, visit graniteconstruction.com, and connect with Granite on LinkedIn, Twitter, Facebook, and Instagram.

About Catalyst

Catalyst is a global nonprofit supported by many of the world’s most powerful CEOs and leading companies to help build workplaces that work for women. Founded in 1962, Catalyst drives change with preeminent thought leadership, actionable solutions and a galvanized community of multinational corporations to accelerate and advance women into leadership—because progress for women is progress for everyone.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211214005342/en/

Media

Erin Kuhlman 831-768-4111

Investors

Wenjun Xu - 831-761-7861

Source: Granite

FAQ

What is Granite's participation in the Catalyst CEO Champions for Change initiative?

Granite is committed to promoting women's representation in leadership through the Catalyst CEO Champions for Change initiative, aiming to increase diversity in executive roles.

What percentage of executives are women at Granite compared to global peers?

At Granite, women comprise 27.9% of executives, compared to 23% among global peers in similar organizations.

How does Granite's promotion rate of women compare to men in leadership?

In 2020, Granite and other Champion companies promoted women at nearly equal rates to men, with a slight advantage in senior leadership promotions.

What is the representation of women on boards at Granite compared to Fortune 500 companies?

Women hold 32.2% of board positions at Granite and other Champion companies, surpassing the 26.5% average in Fortune 500 firms.

What actions are suggested for companies to support women's advancement?

The report emphasizes identifying opportunities, creating equitable solutions like flexible work options, and tracking progress against goals.