Shifting Paradigms: Women in Executive Leadership in the O&G Industry

By- Rakhi Oli (She/Her), Global C-Suite Program, Wharton Executive Education

As I advance into strategic leadership roles, delving into “executive leadership" through Wharton's Senior Executive program has been profoundly enlightening. I am earnestly grateful to Prof Michael Useem at The Wharton School for uncovering the “mission-critical leadership principles” that underpin their profound impact on organizational culture, market position, and long-term value creation.

 As I delved deeper into these “mission-critical leadership principles”, I could not help but contemplate their relevance through the lens of women executives in the Oil and Gas (O&G) industry. The O&G industry is distinctive due to myriad complexities, including its inherent cyclicality, volatility in commodity prices, geopolitical uncertainties, environmental considerations, stakeholder interconnectedness, and significant capital intensity. The glaring underrepresentation of women in executive roles within this industry further distinguishes it, underscoring the need to explore the dynamics of women's leadership in this context. While most case studies on executive leadership focus on industries like IT, Consumer Goods, E-Commerce, and Technology, the O&G industry and women leadership within it remain largely unexplored. Additionally, there's simply aren't enough shared stories from present-day women executives in the O&G sector navigating their organizations in today's rapidly changing and agile business landscape.

 Given this unique context I interviewed seven trailblazing O&G women executives renowned for their unmatched expertise across the diverse business domains. The interviewers found a deep resonance with Prof Useem's Leadership Checklist as they engaged with my narrative. They also shared the strategies they have crafted and leadership principles they have developed along their journeys to overcome obstacles and lead their organizations effectively. As more women take on leadership roles in the O&G industry, their experiences and actionable strategies can significantly contribute to future-proofing women's leadership and bridging the gap for aspiring women leaders. Furthermore, the diverse lens of these women leaders provides a more comprehensive understanding of leadership principles and executive leadership dynamics within the O&G industry.

 Women Executives and their respective Lens:

Following interviews with these women executives and reflecting on my own perspective, I organized my paper into seven sections based on their feedback. This facilitated a comprehensive examination of their leadership strategies, challenges, lessons learned, and their potential to inspire future women leaders in the O&G industry. Additionally, I included a “Raw Lens” on women leadership from a high school student Aaryaa Joshi to incorporate a youth-led perspective.

 Section 1: Key Leadership “Checklist” facilitating their advancement to executive positions in O&G Industry:

1. Bias for action: Be renowned for leadership excellence that yields tangible results and meaningful accomplishments. Actionality closes the gap between planning and execution.

2. Challenge the Status Quo: By probing difficult inquiries, pinpointing potential hazards, and diplomatically questioning alternative viewpoints.

3. Embrace kindness and empathy:  In the interconnected world, frequent encounters necessitate nurturing empathy and understanding.

4. Be Adaptable: Embrace opportunities for diverse experiences, demonstrate flexibility, and discover fulfilling paths. Adaptability is a competitive advantage in today's globalized, and disruptive landscape.

5. Cultivate Industry Credibility: Cultivate enduring relationships through thought leadership, approachability, and authenticity, minimizing the need for constant check-ins.

6. Prioritize Strategic Trade-offs:  Offer your team a "sacrifice calculus", emphasizing trade-offs: What are we willing to relinquish to gain more of something else anticipating market trends, regulatory shifts, and technological advancements?

7. Embrace Data-driven Decision making: Analyze trends, predict outcomes, and mitigate risks to minimize personal biases and ensure adaptability to market changes.

8. Give before you get: Offer support first without expecting immediate returns. Prioritizing giving will bring reciprocity and enable long-term relationships.

9. Take control of your narrative:  Define yourself on your own terms, not others'.

10. Convey your character: Relatability and trust drive all business interactions and successes.

11. 360-degree Cross-Collaboration: Collaborate with various stakeholders and at all organizational levels internally and externally to build authenticity, enable actionability and mitigate risks.

12. Empower the frontlines: Prioritize elevating frontline leaders to decision-makers. They are intimate to customers & adept at navigating changing business landscapes, supporting deployable business models.

13. Advocate diversity: In today's dynamic business environment, diverse and inclusive organizations excel amidst technological, societal, and environmental changes.

14. Leverage the human potential: Nurturing abilities, motivation, mindset, and emotional intelligence empowers individuals, driving organizational excellence and securing long-term growth.

15. Articulate your vision with confidence: Ability to construct and articulate a clear vision is paramount to enable timely implementation and execution.

16. Communicate with purpose: Ensuring clarity and intentionality in every interaction across all the levels.

 Section 2: Distinctive leadership hurdles they encountered within the O&G Industry:

1. Lack of common ground with male counterparts.

2. Need for reassurance or acknowledgment.

3. Reluctance to self-promote, focusing on task completion over personal promotion.

4. Difficulty in cultivating relationships with senior leaders/advocates, hindering career progression.

5. Perception of being treated differently due to gender dynamics in a male-dominated field.

6. Tendency to seek complete information before decision-making, undervaluing intuition.

7. Difficulty introducing innovative ideas in a traditionally conservative industry, compounded by gender-related biases.

8. Struggle to assert oneself and maintain confidence amid resistance or dismissal, requiring perseverance to advocate for one's contributions.

 Section 3: One aspect of their leadership journey they would change:

1.  Being bold to voice new ideas without fear of causing friction.

2.  Recognizing the tendency to self-criticize, especially early in one's career, and fostering confidence in one's abilities and contributions.

3. Cultivating greater self-awareness by prioritizing emotional intelligence and interpersonal skills development very early in one’s career.

4. Finding one's leadership voice sooner and advocating more assertively for opportunities, overcoming self-doubt, and valuing one's worth.

5. Prioritizing spending more time with family, balancing career advancement with personal fulfillment.

6. Confronting and surmounting internal biases that imply one cannot succeed both as a parent (Mother) and an executive concurrently.

7. Stepping out of the comfort zone earlier, overcoming emotional attachment to existing roles and embracing future growth opportunities.

8. Building a professional network early in career. An ecosystem to connect with mentors, sponsors, allies and peers who can support the leadership journey.

 Section 4: Biggest takeaway for today’s Women leading disruption & enabling growth in O&G industry?

Section 5: Greatest potential to empower forthcoming women leadership in the O&G industry.

Empowering future women leadership in the O&G industry requires a multifaceted approach, including networking, self-empowerment, mentorship, continued professional development (CPD), sponsorship, and allyship. Mentorship provides a structured framework for knowledge transfer, skill development, and career guidance, which are essential for fostering leadership growth. Self-empowerment is essential for overcoming self-doubt, while allyship validates ideas and promotes collaboration. Sponsorship for visible roles is crucial for women leaders to excel. Embracing a culture of lifelong learning enables to stay ahead of industry trends and make informed decisions. As careers progress to executive leadership, networking becomes central, further supporting all the various approaches. Ultimately, fostering relationships through networking holds the greatest potential for empowering women leadership in the industry. Nevertheless, the key lesson here is that networking isn't solely about personal gain; it's also about the potential to give back, perhaps starting with giving first.

Section 6: Concluding with a Youth-Lead Perspective by Aaryaa Joshi, Tompkins High School (Junior)

Aaryaa Joshi, a high school junior, acknowledges that while she may not yet grasp all the strategic nuances of leadership, hearing from these remarkable women leaders has significantly boosted her confidence in her future endeavors. She emphasizes that real-life experiences and lessons are invaluable in building confidence. In addition to her academics, she is actively involved in various extracurricular activities, such as being a JV swimmer, participating in leadership clubs like Future Business Leaders of America and Model UN, and volunteering through community services.  Aaryaa believes that these extracurricular pursuits, help lay the foundation for early leadership in girls emphasizing confidence, collaboration, and communication. She refers to Dove's recent #SuperBowl tagline which echoes this sentiment: "The knocks don't stop girls from playing sports; low body confidence does”. Engaging in sports surely fosters early confidence, teamwork, and communication strategies, which she believes are crucial elements in nurturing the potential for future women leadership. Her advice for parents is to share their life lessons, both interpersonal and professional, with their children and encourage participation in sports and extracurricular activities from a young age, alongside academics. Aaryaa is immensely grateful for the opportunity to learn from these phenomenal women leaders and to contribute to this paper.

Section 7: Author’s Conclusion: Amplifying the voices of these seven trailblazing women leaders from the diverse O&G lens not only pave the way for future women leaders but also enrich the discourse on executive leadership dynamics within the industry. The key leadership "checklist" outlined encapsulates essential principles for advancement in O&G and beyond from female lens. The identification of distinctive leadership hurdles and reflections on aspects of the leadership journey these executives would change offer valuable insights into the nuanced experiences of women leaders navigating this challenging terrain. Additionally, a "Raw Lens" from a high school student adds a unique perspective and underscores the importance of early empowerment and confidence-building in future leaders.

Special Thanks and Credits: Jillian Evanko Tamara Morytko , Monica Gruenewald , Jane Stricker Melissa Graham, MBA, MFIN Sonia Clayton ERP SAP -AI Change Management - OCM Chairman of The Global Energy Transition Board - , Tze San Koh 辜子珊 Aaryaa Joshi , Prof Michael Useem , Prof Emilie R. Feldman Wharton Executive Education | Global C-Suite Program Wharton Executive Education

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