PayPal Holdings, Inc (PYPL)

PayPal is a technology platform company that enables digital and mobile payments on behalf of consumers and merchants. The company offers online payment solutions. PayPal serves customers worldwide.

  • Women comprise 36% of PayPal’s board of directors and 30% of its executive management team. Including individuals from diverse ethnic groups, the percentages increase to 45% of board members and 50% of executive management.
  • The company launched a diverse hiring initiative in 2019 focused on director-level-and-above positions and then expanded it to all roles in 2020. In 2019, 34% of open positions were filled by externally sourced diverse candidates. In 2020, the company maintained global gender pay equity and US ethnic pay equity in salary and bonuses for the fifth consecutive year.
  • PayPal CEO Dan Schulman has been a vocal proponent of the company’s mission to democratize payments and to support women and minorities while speaking out against policies and actions antithetical to that mission. During the pandemic, the company transitioned nearly 100% of its global workforce to remote work or flexible work arrangements, pledged to continue paying employees unable to work because of the impacts of COVID-19 and strengthened programs focused on employee wellness.

Etsy, Inc. (ETSY)

Etsy, Inc. provides e-commerce services. The company offers handmade and vintage items, art and supplies, as well as clothing, housewares, paper goods, candles, bags and purses, music, and woodworking items.

  • Women comprise 44% of Etsy’s board of directors and more than 50% of the executive management team. Rachel Glaser is Etsy’s CFO.
  • In 2020, Etsy launched the second cohort of its Mentorship Circle Program, an engineering sponsorship program for women and underrepresented minority engineers, and it launched a companywide DEI learning platform. Etsy has also set a series of diversity targets extending from its workforce to supply chain, and diversity, equity and inclusion achievements are incorporated into executive compensation.
  • Etsy conducts regular pay equity assessments. Its 2020 analysis, conducted with the help of a third-party consultant, found no unexplained pay gaps adverse to women, or employees from other marginalized genders, or non-white employees.

Starbucks Corp (SBUX)

Starbucks Corporation retails, roasts and provides its own brand of specialty coffee. The company operates retail locations worldwide and sells whole bean coffees through its sales group, direct response business, supermarkets and the internet.

  • Women comprise 42% of Starbucks’ board of directors and 56% of the company’s executive management team. Rachel Ruggeri is Starbucks’ CFO and Mellody Hobson serves as Board Chair.
  • Starbucks has achieved 100% pay equity for women and men and people of all races performing similar work in the United States and is committed to achieving pay equity in all markets globally. Starbucks has created a set of Pay Equity Principles and best practices and is sharing them with other companies to encourage greater equity around the world.
  • The company has set representation goals across all roles, including, at minimum, a goal of 40% people of color and 55% women in all retail roles, and 50% women and 30% people of color for all enterprise roles by 2025.

Pax Ellevate Global Women’s Leadership Fund Top 10 Holdings

(As of 05/31/2022)
Holdings are subject to change.


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