God Forbid, a Woman CEO: The Persistence of Machismo at the Corporate Top

In September 2024, during a technology conference in São Paulo, the CEO of Starware Inc., Marcos Norato, caused a major controversy with the statement: "God forbid, a woman CEO." The remark, which quickly spread across social media, sparked a flood of criticism from women's rights groups and corporate leaders. Norato, 52, heads a company that positions itself as innovative, but his statement seems anachronistic and reveals the latent machismo that still permeates many areas of the business world.

How many women are CEOs today in Brazil? And in the world?

Currently, the number of women holding CEO positions in companies in Brazil and globally is scarce. According to 2023 data from the consultancy Korn Ferry, only 7.1% of companies listed on B3, the Brazilian stock exchange, had a woman as CEO. On the global stage, the scenario is not much different: only 8.8% of companies in the Fortune 500 ranking were led by women in the same year. These numbers highlight a persistent reality of female underrepresentation in the highest ranks of organizations.

How many companies in Brazil have never had women in leadership roles?

Another piece of data that illustrates the seriousness of gender inequality in Brazil is that 45% of companies have never had women in leadership positions, according to a 2022 IBGE survey. This figure is concerning as it reflects the cultural resistance many companies still have to allowing women to rise to leadership positions.

Do you know who was the first female CEO in Brazil?

The history of the first woman to occupy a CEO position in Brazil dates back to 1981, when Regina Nunes took over the leadership of the Itaú Econômico bank. Although this was an important milestone for women's entry into corporate leadership, the progress since then has been slow, as current figures suggest.

What is a CEO, and what is their function in a company?

The acronym CEO stands for Chief Executive Officer, which in Portuguese can be translated as Executive Director or President. This is the highest position in a company, responsible for leading the organization and outlining its growth and development strategies. The CEO makes the most important decisions, manages operations, and reports directly to the board of directors or shareholders. They are essentially the captain of the ship, setting the course for the entire business.

Why does gender bias prevent women from reaching leadership positions?

Gender bias keeps women from leadership positions mainly due to deeply ingrained cultural stereotypes. The idea that women are "too emotional" to lead or that their primary role should be taking care of the family is still present in many corporate mindsets. This results in structural discrimination, lack of promotion opportunities, and greater difficulty accessing the networking circles that facilitate career advancement.

What are the sexist arguments used to prevent women from becoming CEOs?

The arguments often used by sexist thinking to justify the absence of women at the helm of companies are based on outdated stereotypes. They claim that women are more vulnerable to emotional issues, less willing to take risks, and more likely to focus on personal rather than professional matters. However, these arguments are completely devoid of scientific evidence. On the contrary, studies indicate that companies with greater gender diversity in leadership positions tend to have better financial results and more balanced risk management.

What is being done to combat this scenario?

Various global and local initiatives are being promoted to tackle this inequality. Organizations such as the World Economic Forum and UN Women have campaigns focused on increasing female representation in the workforce, including in leadership positions. In Brazil, some measures have been adopted to encourage gender equality, such as specific mentoring programs for women, as well as initiatives like the WEPs Brazil Award, which recognizes companies committed to gender equality.

Moreover, the Quota Law for Women on Boards of Directors, proposed in 2015, is still under discussion in Congress but has already been implemented in other countries. In Norway, for example, publicly traded companies are required to ensure at least 40% female representation on their boards, a measure that could be adapted to the Brazilian context.

What are the penalties for sexist remarks against women in Brazil?

Currently, in Brazil, there is no direct penalty for statements like Norato’s, unless there is a direct offense to a specific person or group, which could be classified as gender discrimination. However, the negative impact on a company's image can be significant. Following Marcos Norato's statement, Starware Inc. faced a boycott from customers and suppliers, resulting in a sharp drop in the company’s market value.

What are Brazil’s policies to improve gender equality in the labor market?

Brazil has some policies aimed at promoting gender equality in the labor market, such as the Maria da Penha Law and the Equal Pay Law. However, many of these laws are still ineffective in practice, mainly due to a lack of enforcement and the persistence of an exclusionary corporate culture. Companies that adopt diversity and inclusion policies, however, have stood out as models to be followed.

Our Opinion

Norato's statement was not a momentary slip, but a reflection of a systemic problem affecting the global labor market. Although women are increasingly qualified for leadership roles, machismo, disguised as “personal opinions,” continues to restrict their access to power. Only with the implementation of rigorous public policies, harsher penalties for companies that perpetuate gender discrimination, and a shift in corporate mentality can we advance toward true gender equality at the top of organizations.