Headline from CNN Money: “New Yahoo CEO Mayer is Pregnant”
- 1992: The title of a male CEO’s speech that was reprinted in the Christian Science Monitor: “A Pregnant CEO: In Whose Lifetime?” (Implying the unlikelihood.)
- 2012: From Marissa Mayer, new Yahoo CEO: Demonstrating no concern that she was pregnant, the Yahoo Board, ”…showed their evolved thinking.”
- From The Atlantic: “What will be really, really fantastic is when someone like Mayer can be a pregnant CEO–rather than, you know, A Pregnant CEO.
- From writer, Rebecca Traister: ”It is great that Marissa Mayer is pregnant, but the intensity of reaction is slightly depressing. Kind of as if they’d hired a yeti.”
In 1980, there were no female CEOs in the Fortune 100 list.
As of July 17, 2012, there were 20 female CEOs in the Fortune 500 list. Here are the top 10, the firm, the Fortune rank:
- Meg Whitman (HP #10);
- Virginia Rometty (IBM #19);
- Patricia A Woertz (Archer Daniels Midland Company #28);
- Indra Nooyi (Pepsico, Inc. #41)
- Angela F. Braly (WellPoint, Inc. #45)
- Irene B. Rosenfeld (Kraft Foods Inc. #50)
- Ellen J. Kullman (DuPont #72)
- Carol M. Meyrowitz (The TJX Companies, Inc. #125)
- Ursula M. Burns (Xerox Corporation #127)
- Sheri S. McCoy (Avon Products Inc. #234)
Where does all of this take us?
To optimizing all human capital…
“In general, the best clue to a nation’s growth and development potential is the status and role of women.” (from Harvard’s David Landes, The Wealth and Poverty of Nations, p. 413).
Catalyst is a good source for female CEO info, this NBER paper discusses the changing face of all CEOs, and here is the CS Monitor speech from 1992 on the dearth of female executives.
For more on Marissa Mayer, to get to know Yahoo’s new CEO, this list of 11 facts about her was fun to read and here is an Atlantic article and one from Salon.
Italy has just declared its “pink quota.”
A new law mandates that by 2015, women should be one-third of all board members for listed and Italian state-owned firms. Currently, the total is somewhere between 3.7 and 6%. (Checking 2 sources, I found different statistics.)
Looking at how Australia and France have raised female board presence, which approach do you favor? Here are some facts:
- Legislative incentives.
- Mandated diversity policy reporting.
- Female board membership up by 5.3% from 2009-2011.
- Currently at 13.8%.
- A formal mentoring program is bringing female candidates to boards’ attention.
- Legislative fiat.
- Female board membership has skyrocketed by 7.5% from 2009-2011.
- Currently at 16.6%.
- Mandated to rise to 40% by 2016.
Here are some interesting statistics from Catalyst, a group that gathers information about women:
Women on the Board (countries at the top of a 44 country list):
||% Board Seats Held By Women
Women on the Board (countries at the bottom a 44 country list):
||% Board Seats Held By Women
|United Arab Emirates
A note: On the 44 country list, at #34, Italy is close to the bottom.
At first, I learned about Italy’s “pink quota” in a WSJ article. Here though, is the best report I accessed about women on corporate boards and the source of some statistics while the others came from Catalyst, a research organization that focuses on women. For further discussion on occupational and wage gender gaps, you could go to these econlife posts here and here.