Issue No. CCXIV; December 18, 2013
THIS ISSUE’S HIGHLIGHTS:
I. VOICES OF MALE CEOS AT THE 2014 GLOBAL SUMMIT OF WOMEN
II. LATIN AMERICAN WOMEN PRESIDENTS
III. BREAKING THE GLASS CEILING IN THE AUTOMOBILE INDUSTRY: MARY T. BARRA
IV. NEW REPORT: DIVERSITY DRIVES DIVERSITY FROM THE BOARDROOM TO C-SUITE
I. VOICES OF MALE CEOS AT THE 2014 GLOBAL SUMMIT OF WOMEN
In response to a challenge from Taj France CEO Gianmarco Monsellato to include more men in women’s events as part of their own ‘continuing education’ in gender relations, the 2014 Global Summit of Women has invited several male CEOs, mostly French, to its June 5-7th gathering in Paris where 1,000 women from 70+ countries will be attending.
Michel Landel, CEO of Sodexo, Frederic Oudea, CEO of Societe Generale (one of France’s largest banks), Thierry Pilenko, CEO of Technip (an energy company), Sol Trujillo, former CEO of three companies – U.S. West, Orange (France Telekom) and Telstra (Australia) – will join Mr. Monsellato in a discussion on “Redefining the Marketplace: The Business Case for Gender Equity”. The session will be moderated by Booz Inc. Founder and former CEO Shumeet Banerji, who will guide the dialogue on linking current market drivers – women – to a company’s financial performance.
Some of the male CEOs joining the 2014 Global Summit of Women: Michel Landel of Sodexo; Fredric Oudea of Societe Generale; Thierry Pilenko of Technip; Sol Trujillo, formerly of US West, Orange, and Telstra; and Gianmarco Monsellato of Taj France
Microsoft France’s President Alain Crozier will be part of a Summit debate on “Revisiting Work/Life Integration,” where he will be joined by Metlife EVP for Employee Benefits Maria Morris and Unibail-Rodamco Chief Resources Officer Armelle Carminati. The basic question to be explored is whose responsibility is it to enable workers to combine successfully their work and family responsibilities? Can both be combined effectively so neither part of a woman’s life suffers? An opening session on “Doing Business With France” will be spearheaded by Nicolas Dufourcq, CEO of BPI France SA, who will point to business opportunities in his country, while Joe Keefe of US-based Pax World, a social investment fund, will join others in the session on “Redefining Corporate Social Responsibility: From Charity to Business Strategy.”
“I think of the Summit as an equal opportunity forum, and whether from the speakers’ podium or the participants themselves, we intend to include some men at the Paris Summit to help them understand women’s perspectives and issues, and to have the women leaders attending hear how men view those very same issues,” states Summit President Irene Natividad. “Gender equity can accelerate if more men are engaged in the effort,” she adds.
Hear from these male CEOs and dozens of other presenters at the Summit in Paris. Early-bird registration ends on January 1, 2014, so register today at www.globewomen.org/globalsummit.
II. LATIN AMERICAN WOMEN PRESIDENTS
With Michelle Bachelet’s easy win with 62% of the vote last Sunday (December 15th) to recapture the Chilean Presidency, Latin America now has four women serving as Presidents out of the 10 currently serving worldwide. More than any other region of the world, the area known for machismo attitudes now has four women at the helm. These are not ceremonial presidencies, but rather active roles in leading major economies.
Dilma Rousseff, former Energy Minister of Brazil, is planning to run for a second term as President of the sixth largest economy in the world. Next door is Argentina, where Cristina Fernandez de Kirchner is in the midst of her second term. Costa Rica has its first woman President in Laura Chinchilla, and now, Chile once again with Bachelet back in charge of this stable, high-growth country.
In the lower houses of Congress, Latin America has 24% women’s representation, the second highest percentage globally, surpassed only by the Nordic countries at 42%. Part of this progress is due to the passage of quota laws in the ‘90’s adopted in at least a dozen countries in Latin America that stipulate 30% of party lists must include women.
Does this mean that women’s equity has been achieved in the region? Not at all, but citizens are getting more used to seeing women in charge. Moreover, Bachelet has proven that having a woman President can make a difference for other women. During her first term, she increased access to child care for poor families, created pensions for housewives, legalized alimony payments to divorced women, and named women to half her first Cabinet. President Dilma Rousseff of Brazil also appointed women to a third of the Cabinet positions in her government despite objections in some quarters and named the first woman CEO of state-owned oil company, Petrobras. (Source: New York Times, 12/15/13).
To see who are the women Presidents and Prime Ministers currently in office, click to this link, http://wexpo.biz/global_summit_women_report_women_government_leaders_2010
III. BREAKING THE GLASS CEILING IN THE AUTOMOBILE INDUSTRY: MARY T. BARRA
Suffering through near-bankruptcy, needing government bailout to survive, and seeing its brand tarnished, General Motors has emerged in four years, a leaner company, with better products and a more integrated leadership that currently has almost a third of its board made up of women – the only one in the industry – and now a 33-year veteran of the company breaking the thickest of glass ceilings to become its new CEO.
Beginning her career as an 18-year-old intern at GM, America’s largest automaker, and 33 years later holding the post of Executive Vice President of Global Products Development, Mary T. Barra has been credited with the overhaul of the company’s vehicle line-up globally. “Mary was picked for her talent, not her gender,” stated the former CEO Dan Akerson, who pointed out her management, production and people skills which catapulted her to be his top choice.
For the most part, automakers have been deaf to the fact that women dictate 65% of car purchases in the U.S. and other markets. Car dealers and service providers are known for not treating women customers particularly well. That’s beginning to change as this highly competitive market must now realize who their customers really are. GM’s head engineer is a woman and many of its brands, marketing and products have women in mind. Industry analysts see Mary T. Barra as able to lead GM to the next stage of development. The automaker not only appointed an accomplished executive to the top job, but it also tapped into a consumer reality. (Source: Forbes.com, 12/10/13)
To see a listing of women CEOs of Fortune 500 companies, click to this link: http://wexpo.biz/women_ceos
IV. NEW REPORT: DIVERSITY DRIVES DIVERSITY FROM THE BOARDROOM TO THE C-SUITE
A new report from Ernst & Young shows that diversity in a company’s board or in senior management can drive further diversification across the leadership pipeline. Their study shows that women on the board accelerate the appointment of additional women to board seats within the company. There is also a connection between gender diverse boards and a higher percentage of women in executive positions, who, in turn, enlarge the pool of potential board directors.
The study also notes that new opportunities lie for women being named to board seats, because 20% of current directors serving in 1500 companies in the S&P will reach the average retirement age of 72. (Source: EY Corporate Governance Center, 12/16/13).
The percentage of S&P 1500 companies with two or more directors has been gradually increasing (from 29% in 2006 to 42% in 2013), while the percentage of companies with 0 women directors has been declining (from 35% in 2006 to 22% in 2013); Graph from Ernst and Young Report on Diversity Drives Diversity.
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