WILMINGTON, Del., Oct. 18, 2018 (GLOBE NEWSWIRE) -- Navient (Nasdaq: NAVI), a leading asset management and business processing services company, was among the greater Philadelphia-area companies recognized by the Forum of Executive Women as a “Champion of Board Diversity.” The award was presented yesterday to companies at the Forum’s annual breakfast, attended by more than 600 area female executives.
“It’s long past time for significant increases in diversity in the boardroom, in the C-suite and in elected office. It’s the right thing to do—and it’s the smart thing to do. Companies that embrace diversity and foster it in their leadership ranks are companies that see an increase in their bottom line,” said Margaret A. McCausland, president of The Forum of Executive Women.
The award recognizes companies that achieved board composition of at least 30 percent women. Navient is distinguished for reaching gender parity in the boardroom. Half of the 10-member board of directors are women.
The organization also released its annual report, Women in Leadership, which provides an important barometer for measuring progress of women leaders in the region. This year’s report reveals that of a total of 870 board seats 17 percent are held by women, only a slight increase from 16 percent in 2016.
“At Navient, we strategically sought the skills we needed from diverse board candidates and are proud that half of our board members are women,” said Navient President and CEO Jack Remondi. “Diversity in the boardroom encourages engagement and challenging assumptions, which we believe is essential to our success.”
Navient has attracted nationwide recognition for gender parity on its board from 2020 Women on Boards, the Women's Forum of New York and the New York Stock Exchange Governance Services.
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Navient (Nasdaq: NAVI) is a leading provider of asset management and business processing solutions for education, healthcare and government clients at the federal, state and local levels. The company helps its clients and millions of Americans achieve financial success through services and support. Headquartered in Wilmington, Delaware, Navient also employs team members in western New York, northeastern Pennsylvania, Indiana, Tennessee, Texas, Virginia, Wisconsin, California and other locations. Learn more at Navient.com.
About The Forum of Executive Women
Founded in 1977, The Forum of Executive Women is the region's premier women's organization, actively working to increase the number of women in leadership roles, expand their impact and influence, and position them to drive positive change in the greater Philadelphia region. For more information about The Forum of Executive Women visit www.FOEW.com.
Media: Nikki Lavoie, 302-283-4057, firstname.lastname@example.org
Source: Navient Corporation