First United Corporation (NASDAQ: FUNC), a bank holding company and the parent company of First United Bank & Trust, has been recognized as a “Winning (W)” company by 2020 Women on Boards, the premier global education and advocacy campaign committed to increasing the number of women on corporate boards.
“We are proud of having a gender diverse board and are honored by the recognition from 2020 Women on Boards,” said Carissa Rodeheaver, CEO, President and Chairman of the Board of Directors of First United. “We view empowering women and ensuring representation throughout our Company as an initiative that creates meaningful value for our business, and this remains a key priority for us at First United.”
A “Winning (W)” company is selected from among the companies in the Russell 3000 index for having achieved the goal of at least 20% of its board seats being held by women. First United has four female directors out of 11 total members, which means women hold 36% of its Board seats. 2020 Women on Boards annually tracks, analyzes and reports on the progress of numbers of women serving on the Russell 3000 company boards. As a campaign dedicated to education and collaboration, 2020WOB recognizes companies, including First United, that exhibit good corporate governance.
“It’s even more critical now, at a time when the business world is transforming a total shift in board governance practices, that we applaud leading companies, including First United, that appreciate having business-savvy women on their boards as a competitive advantage,” said Betsy Berkhemer-Credaire, CEO of 2020 Women on Boards. “Even with the positive national momentum, U.S. companies are still a long way from gender balance in the boardroom. And First United is paving the way.”