Okta Sponsors Firstboard.io to Support Talent Diversification at the Highest Levels

Rhea-AI Summary

Okta (NASDAQ: OKTA) announces its sponsorship of Firstboard.io, a group dedicated to increasing the number of women in technology leadership roles. The initiative aims to enhance gender diversity on boards, addressing the slow rise of female representation, which currently stands at 31% on technology company boards in 2023. Despite initiatives, the percentage of new female directors has fallen to its lowest since 2018, at 38%. Okta's Chief Marketing Officer, Kerry Ok, emphasizes the importance of diversity for business success and a culture of belonging. Firstboard.io founder Rita Scroggin highlights the significance of connecting women leaders with expertise in cybersecurity, AI, and enterprise software to modern boards. This collaboration aims to prepare boards for technological disruptions and improve overall board effectiveness.

Positive

• Sponsorship aims to increase gender diversity in technology leadership roles.
• Female representation on technology company boards is 31% in 2023.
• Firstboard.io connects women leaders with expertise in key technologies to boards.
• Okta’s commitment to diversity is viewed as a step towards inclusive leadership.

Negative

• Percentage of new female directors has fallen to 38%, the lowest since 2018.

SAN FRANCISCO--(BUSINESS WIRE)-- Okta, Inc. (NASDAQ:OKTA), the leading independent identity provider, today announced its sponsorship of Firstboard.io, a curated group of experienced women board directors and board-ready accomplished tech executives. Through this collaboration, Okta will support Firstboard.io as they increase the number of women technology leaders on boards to pave the way for more gender diversity and leadership in business.

According to the U.S. Technology Spencer Stuart Board Index, female representation in boardrooms is slowly rising, with women representing 31% of directors on technology company boards in 2023. However, the survey reported that women accounted for 38% of new directors, marking the lowest figure in this index since 2018.

“Despite initiatives to achieve gender parity in boardrooms, there’s still progress to be made,” said Kerry Ok, Chief Marketing Officer at Okta. “We’re committed to doing our part to regain momentum, understanding that having diversity at the highest levels is critical to creating a culture of belonging and driving business success. Our partnership with Firstboard.io is a step towards progress on our journey to more inclusive leadership.”

In today’s digital-first world, the composition of boards also requires specialized cybersecurity knowledge. Given their responsibility to oversee a company’s strategy and risk management, board directors need to have an understanding of imminent threats. PwC’s recent survey explores the evolving business landscape, citing that 80% of directors view technological disruption to be a moderate or serious risk.

“The benefits of diversifying talent and the connection to improved board effectiveness is significant,” said Rita Scroggin, Founder and CEO at Firstboard.io. “At Firstboard.io, it’s our priority to connect women leaders with domain expertise in cybersecurity, AI, enterprise software, and other key technologies to next generation boards. By sharing our vision with our sponsors, we’re able to accelerate a future where more inclusive leadership is achievable.”

About Firstboard.io

Firstboard.io is a curated collective of accomplished women technology leaders comprised of sitting board directors and board ready executives with expertise in accelerating growth across different domains from early stage to IPO and beyond. By connecting exceptional technology leaders with forward-thinking organizations, Firstboard.io is creating a powerful ecosystem that promotes diversity of perspectives and excellence in the boardroom. For more information on how to find your next Board Director and the Firstboard.io mission, please visit https://www.firstboard.io/

About Okta

Okta is The World’s Identity Company™. We secure Identity, so everyone is free to safely use any technology. Our customer and workforce solutions empower businesses and developers to use the power of Identity to drive security, efficiencies, and success — all while protecting their users, employees, and partners. Learn why the world’s leading brands trust Okta for authentication, authorization, and more at okta.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240709053254/en/

Media Contact:

Jennifer Yamamoto

jennifer.yamamoto@okta.com

Source: Okta, Inc.

FAQ

What is Okta's recent sponsorship initiative?

Okta has sponsored Firstboard.io to support increasing the number of women in technology leadership and board positions.

What percentage of directors on technology company boards were women in 2023?

In 2023, women represented 31% of directors on technology company boards.

What is the significance of Firstboard.io's collaboration with Okta?

The collaboration aims to enhance gender diversity on boards and prepare them for technological disruptions by connecting women leaders with expertise in key technologies.

What was the percentage of new female directors according to the latest index?

According to the latest index, new female directors accounted for 38%, the lowest figure since 2018.

How does Okta view the importance of diversity in leadership?

Okta views diversity in leadership as critical for creating a culture of belonging and driving business success.