Why So Few Women Run Fortune 500 Companies
Here's a shocking statistic: only 23 women run Fortune Global 500 companies. And that's nine more than last year! While women enter business in roughly equal numbers as men, still stunningly few -- less than 5% -- make it to the top.
That fact alone is good reason to pay attention to the few women who do make it. On the Leadership Next podcast this month, we've interviewed two of them -- Flex CEO Revathi Advaithi and Best Buy CEO Corie Barry -- and found both to be refreshingly candid about their journeys to the top. Not surprisingly, neither followed a traditional route.
Advaithi began her career in India as an engineer - which in itself was rare for a woman - and never really expected to snag a CEO job. When one of her mentors in the U.S. proposed moving her into a senior management job, Advaithi responded: "I don't hunt, fish or golf. I'm not sure I can do this job."
Corie Barry also followed a unique path to the top, and takes a unique approach to leadership. "One of the things we talk a lot about at Best Buy are our inclusive leadership behaviors," she said. "We put them into place almost a year before the pandemic hit. And they are courage, empathy, vulnerability and grace."
I recommend listening to both interviews, on either Apple or Spotify. And then ask yourself this question: is there any good reason why the Fortune Global 500 shouldn't have more corporate leaders like these?
CEO GBLOC & President alternawork Inc.
3yHey Revathi Advaithi nice, keep up the good work! Alan Murray thanks for sharing
we need you
Portfolio Manager and Biotech Podcast Host
3yLeadership is no longer the domain of men. Women have attained a lot of key leadership positions in different sectors. However, the rise in women leadership does not automatically imply that they will not face challenges . There are challenges which come with this new culture of women leaders and mentors. How are women facing these challenges and winning? An effective leader is one who wins hearts. But how does one achieve this? Alan Murray wonderful post!
Financial Advisor
3yGreat post. Thanks for sharing.
Founder & Investor at Abelian Investors
3yShocking is the right word Alan Murray. 14/500 that's 2.8%. 23/500 is 4.6% Same numbers as in venture capital funding. The numbers in investments and CEO positions can explain why female leaders and founders produce higher returns for investors then male peers on average do. Assume the ones picked are the best women and female founded companies. The best women are compared to the average Fortune 500 CEO/founders. For the record: The Fortune 500 CEO's are of course world-class business people. I consider it one of my highest honors overall to have been invited to work with the CEO of the Year by other CEO's on the S&P500. "On one side we have Rihanna. World famous. Succesful in multiple fields age 25. Sold for hundreds of millions already. Network and team of world-class people. On the other side we have John and his friends. They grew up and went to school close to our office. John and his friends have a degree, a few years of work experience, a really good idea and almost a product. Let's play it safe and pick John and his friends. Instead of the woman with a world-class team that will sell for millions again." Here in Europe scientists, inventors & traders can't even get a small statue or street named after them anymore.