Female bank CEOs help in theory, not yet practice 4 Jan 2023 Marianne Lake or Jennifer Piepszak may one day succeed JPMorgan’s Jamie Dimon. Women stack the benches at BNP, UBS and Credit Suisse. Yet too often female CEOs don’t enact change throughout the ranks. Jane Fraser’s Citi shows it takes time for the gender balance to trickle down.
Home offices risk a diversity disaster 8 Mar 2021 Women are likely to embrace flexible work policies in the post-pandemic new normal. That could threaten prospects for promotion, an earlier study of China’s $24 bln Trip shows. Employers need to manage the bias, or efforts to be enlightened will deliver the opposite result.
Review: #MeToo comes out of the shadows 25 Oct 2019 The casting couch is a Hollywood trope, but it's real for many women. Yet exposing their mistreatment is daunting, and not just because it requires courage. Two books about the fall of media mogul Harvey Weinstein show the insidious role of legal agreements that muzzle victims.
Uber adds useful numbers to solve gender equation 15 Jul 2019 The ride-hailing app is tying executive compensation to targets for increasing the share of women and minorities in its ranks. Linking pay to worthy diversity goals is one concrete way for Uber to rehabilitate its toxic image. It also paves the road for others to follow.
U.S. soccer’s unsporting pay is an own goal 8 Jul 2019 The American women’s team that clinched the World Cup title on Sunday is fighting for equal wages. As with similar battles playing out in the corporate world, arguments about metrics and comparability cloud a simple point: closing the pay gap is good for long-term profit.
Gender pay gap deserves GAAP accounting 19 Jun 2019 Alphabet is the latest to oppose a shareholder call for it to report the difference between median male and female pay. Many companies publish data by job categories to deny sexism, but that sidesteps a lack of women at the top. Fuller numbers would help get at the real problem.
Closing diversity gaps involves no mystery 23 May 2019 Many global asset managers think improving diversity compromises returns. Meanwhile JPMorgan persuaded most shareholders that disclosing its gender pay gap was too onerous. These are excuses. The solution is simple: show the gaps, close them, or expect lawmakers to step in.
Hong Kong bank showcases the XX factor 8 Mar 2019 As International Women’s Day brings more sad stats about corporate diversity, $46 bln Hang Seng Bank can stand proud. Its shares have outperformed under three consecutive female CEOs and a cohort of female directors. It sets a powerful example for companies worldwide to follow.
The Exchange: Fixing tech’s gender disparity 19 Feb 2019 Women hold too few roles in corporate America, especially in engineering and computer science. Verizon’s Genia Wilbourn joins Breakingviews to discuss how she and the telecom company are addressing that, from diversity training to influencing suppliers to the CEO’s crucial role.
Review: No baby boom for China’s Big Brother 19 Oct 2018 The state hopes to manipulate women for economic and political ends, says Leta Hong Fincher in “Betraying Big Brother”. Once they were workers. Today the priority is bearing babies to defuse a demographic time bomb. A falling birth rate shows the limits of Beijing’s power.
#MeToo has room to spread in India Inc 18 Oct 2018 Companies are rushing to improve practices after a wave of harassment allegations from film stars and journalists. That’s welcome: implausibly few complaints are reported. Where New Delhi has been relatively silent, firms can set the tone. It will help retain more talent too.
Amazon gender-diversity fail shows limits of tech 10 Oct 2018 The $900 bln e-commerce giant scrapped a résumé-reviewing computer program after discovering it was prejudiced against women. Algorithms and machine learning hold promise, but are limited by programmers’ own biases. Weeding out such regressive traits requires human intervention.
JD CEO’s arrest steps on governance landmine 3 Sep 2018 Richard Liu is being investigated for sexual misconduct in the United States. Super-voting stock gives him control of the $45 bln e-commerce firm; the board can't meet without him. Even if Liu is cleared, this raises questions about JD’s use of legally-untested structures.
The Exchange: Beth Comstock 29 Aug 2018 Over two decades at General Electric, former Vice Chair Beth Comstock had a window seat on the industrial group’s attempts to adapt to changes in technology and markets. She popped by Times Square to discuss GE, and how she became the company’s most senior female executive.
Bad-boss risk rises for activist and target alike 29 May 2018 An investor who took aim at a REIT chief accused of sexual misconduct is now fighting claims against himself. Such allegations are harder to contain for companies, which usually face more scrutiny than hedge funds. The asymmetry has limits though, especially if fund returns fall.
Silicon Valley’s XX factor 17 May 2018 Only one out of three employees at Google, Facebook and Apple is a woman. How long before these tech companies hit gender parity in the workforce?
Closing tech’s gender gap will take decades 17 May 2018 One in three employees at Google, Facebook and Apple is a woman. Even if just over half of new hires were female, it would take up to 15 years to achieve a balanced workforce, a Breakingviews calculator shows. If Silicon Valley is serious about parity, a bolder target is needed.
L&G’s gender revolt has revealingly low bar 17 Apr 2018 The 983 bln pound asset manager will vote against chairs at UK companies if boards have too few women. It’s a laudable move. But the 25 pct threshold looks low, and traps groups as big as Barclays or London Stock Exchange. Diversity in British boardrooms has a long way to go.
Holding: #MeToo is putting corporate law on trial 29 Mar 2018 Claims of sexual misconduct at the likes of Fox and Wynn Resorts have led to suits over board duties and disclosure. They’re long shots, largely because business governance is an awkward tool for social change. Yet investors and victims are giving it a new and useful purpose.
UK gender pay gap requires “just do it” approach 28 Mar 2018 Disclosures have revealed discrepancies, especially in finance, which will not close on their own. The state can help. Fining employers which fail to make progress over several years would align the interests of women and investors. CEOs would have to match words with actions.