{"id":12314,"date":"2017-08-15T16:50:55","date_gmt":"2017-08-15T20:50:55","guid":{"rendered":"https:\/\/globewomen.org\/globalsummit\/?page_id=12314"},"modified":"2018-02-05T11:14:02","modified_gmt":"2018-02-05T16:14:02","slug":"october-28-2014-no-ccxxiii","status":"publish","type":"page","link":"https:\/\/globewomen.org\/globalsummit\/october-28-2014-no-ccxxiii\/","title":{"rendered":"October 28, 2014; No. CCXXIII"},"content":{"rendered":"

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No. CCXXIII;\u00a0October 28,\u00a02014<\/strong><\/p>\n

I. BRAZIL RE-ELECTS WOMAN PRESIDENT; GLOBAL SUMMIT OF WOMEN TO TAKE PLACE IN SAO PAULO IN 2015
\nII. MORE WOMEN ON THE RISE IN FINANCIAL INDUSTRY: ABIGAIL JOHNSON NAMED CEO OF FIDELITY INVESTMENTS
\nIII. INDIA EXTENDS DEADLINE TO ADD AT LEAST ONE WOMAN DIRECTOR
\nIV. WHY MEN VALUE FLEXTIME
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I. BRAZIL RE-ELECTS WOMAN PRESIDENT; GLOBAL SUMMIT OF WOMEN TO TAKE PLACE IN SAO PAULO IN 2015<\/strong><\/p>\n

\"\"Dilma Rousseff, the first woman President of Brazil, was narrowly re-elected on Sunday extending the rule of the Workers Party, which is credited for lifting up many of the country’s poorest citizens.\u00a0 Rousseff, who has been named by Fortune magazine as one of the most powerful women in the world for the past four years, has pledged to work together with the defeated Social Democracy Party in an atmosphere of peace and unity to further effect change in the world’s 7th largest economy.\u00a0 She remains one of 17 women currently in office as President or Prime Minister. To see who joins her in this position,\u00a0click here for a listing of women global government leaders\u00a0<\/a>on\u00a0www.globewomen.com<\/a>.<\/p>\n

Against this backdrop, the Global Summit of Women is proud to hold its 25th<\/sup>\u00a0Anniversary Summit in a country led by a woman.\u00a0\u00a0The 2015 Global Summit of Women takes place in Sao Paulo on May 14-16, 2015, under the theme of \u201cCreative Women \u2013 Creative Economies<\/em><\/strong>.\u201d<\/p>\n

\u201cWomen across the globe bring innovation to the world\u2019s economies, despite the hurdles they face as workers and entrepreneurs,\u201d said Summit President Irene Natividad.\u00a0 \u201cBrazil\u2019s impressive cadre of women in business, who have been resourceful and imaginative in starting and growing their enterprises, makes Brazil an ideal location the 25th<\/sup>\u00a0Anniversary Summit.\u201d<\/p>\n

The Summit, fresh from an energetic 2014 event in Paris which brought together 1,200 women leaders from 82 countries, will again focus on creative solutions, whether from government, business, or civil society to advance women\u2019s economic status globally.\u00a0 Delegations of women from countries including China, France, Japan, Poland, Spain, and others are already beginning their preparations to be a part of this historic Summit.<\/p>\n

Early-bird registration for the 2015 Global Summit of Women is now open until the end of 2014.\u00a0 Forms are available at\u00a0www.globewomen.org\/globalsummit<\/a>.<\/p>\n

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Sao Paulo serves as the headquarters for many financial and cultural institutions.\u00a0\u00a0<\/em><\/strong><\/p>\n

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II. MORE WOMEN ON THE RISE IN FINANCIAL INDUSTRY: ABIGAIL JOHNSON NAMED CEO OF FIDELITY INVESTMENTS
\n<\/strong>\u00a0In a move similar to Ana Botin taking the reins of Spain\u2019s banking giant Santander last month, Abigail Johnson was named CEO of Fidelity Investments, succeeding her father at the helm of the U.S.\u2019s second largest mutual fund firm.<\/p>\n

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Abigail Johnson and Ana Botin: 2 women leading global financial institutions.<\/em><\/strong><\/p>\n

Since joining the privately-owned firm in 1998, Johnson has immersed herself in all aspects of the business, much as Botin did at Santander.\u00a0 She\u00a0started as an equity analyst, before being appointed President in 2012, where she oversaw the company\u2019s core businesses \u2013 asset management, retail and institutional brokerage, and retirement and benefits services.\u00a0\u00a0(\u201cAbigail Johnson becomes Fidelity CEO\u201d,\u00a0CNN Money<\/em>, October 15, 2014)<\/p>\n

Johnson and Botin are now together in rarefied air, with women accounting for only 2% of CEO\u2019s of global financial services firms. In the US, women now lead 26\u00a0Fortune<\/em>\u00a0500 companies, the most at any one time.\u00a0 However, this accounts for only 5.2% of CEO positions in the US.\u00a0To see the other CEOs of US\u00a0Fortune\u00a0<\/em>500 companies, click here.<\/a><\/p>\n

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III.\u00a0<\/em>INDIA EXTENDS DEADLINE TO ADD AT LEAST 1 WOMAN DIRECTOR<\/strong><\/p>\n

Two weeks before an October 1 deadline to appoint at least 1 woman to the Boards of Directors of companies in India, the Securities and Exchange Board of India (SEBI) extended the deadline for compliance to April 1, 2015.\u00a0 SEBI made various amendments to the Corporate Governance Code to align with the new Companies Act, though the requirement of a minimum of one woman director is the only item given a time extension beyond October 1.<\/p>\n

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Indian companies had been slow to appoint more women directors as required in the 2013 Companies Act, which passed in April 2014.\u00a0 As of August 31, 2014, 755 of the 1,469 companies listed in the National Stock Exchange (NSE) had yet to appoint a woman director, according to Indian Boards, a joint initiative of Prime Database and the NSE.<\/p>\n

India is one of 22 countries with a quota for publicly-listed or state-owned companies.\u00a0 To see what other countries have a requirement for women on boards,\u00a0click here.<\/a><\/p>\n

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IV. WHY MEN VALUE FLEXTIME<\/strong><\/p>\n

A new report released by the Working Mother Research Institute in the U.S. shows that workplace flexibility is a competitive advantage, a gender equalizer, and an essential offering in a modern workplace.\u00a0 While it is no surprise that women value flex time, the survey, supported by Ernst and Young, reveals that workplace flexibility is as important to men as it is to women.<\/p>\n

\u201cMen are too often an afterthought in conversations about working parents or workplace flexibility,\u201d says Karyn Twaronite, the EY global diversity and inclusiveness officer. \u201cWe have to shift our conversations and communications to be much more inclusive. The flexibility issue is going to become even more prominent, and a requirement in business to achieve sustainability in a global work environment.\u201d<\/p>\n

The survey\u00a0evaluated 11 different categories of work-life satisfaction and found there is a wide gap between men whose employer encourages flexibility compared with those who don’t.<\/p>\n

For example, men with greater flexibility in their work schedules reported:<\/p>\n