Issue No. XC; November 28, 2011





Zappeion, Site of the 2012 Summit Welcoming Dinner

 For video which debunks modern "Greek Myths", click here

Percentage of Women Directors of Fortune Global 200 Companies

Top Ten Companies with Highest Percentage of Women Directors in Fortune Global 200

1 - Proctor & Gamble (USA) - 45.6%
2 - Wellpoint (USA) - 41.7%
3 - Statoil Hydro (Norway) - 40%
4 - General Motors (USA) - 36.4%
4 - Target (USA) - 36.4%
5 - Wells Fargo (USA) - 35.7%
5 - HP (USA) - 35.7%
6 - Deutsche Bank (Germany) - 35%
7 - France Telecom (France) - 33.3%
7 - PepsiCo (USA) - 33.3%
7 - McKesson (USA) - 33.3%
8 - BNP Paribas (France) - 31.3%
8 - Societe Generale (France) - 31.3%
9 - Dow Chemical (USA) - 30.8%
10 -Deutsche Post (Germany)- 30%
10 -Intel (USA) - 30%


Virginia Rometty
Incoming CEO of IBM

Gracia Martore
CEO, Gannett Corp.

Susanne Ruoff
CEO, Swiss Post





Gateway to the Balkan economies, Athens, Greece serves as the venue for the foremost international economic forum for women leaders in business, government and civil society on May 31-June 2nd at the Intercontinental Hotel.  Under the theme of Women: The Engine of Economic Growth, the 22-year-old Summit’s focus next year echoes the latest World Bank report finding that gender equity equals sustainable development.  As Caroline Anstey, World Bank Managing Director, so aptly stated at a Nov. 18th Corporate Women Directors International Forum:  “Women are the next emerging market.”

Some of the 2012 Summit speakers include McKinsey’s Europe Leader Michael Halbye, who will open Summit proceedings with his analyses of economic and business trends not only in the European region but globally.  Deloitte’s Chair of the Global Center for Corporate Governance Carol Lambert (France) will participate in a plenary forum on “Ethics and Transparency Post-Crisis”.  Booz Inc. CEO Shumeet Banerji will be joined by other former and current CEOs in sharing best practices in “Engaging Men in Diversity and Inclusion”.  A special session on "Doing Business with South Eastern Europe" is also planned prior to the Summit's opening.  The Entrepreneurial Luncheon Forum will feature women business owners who have developed enterprises in high growth areas, while the Youth Forum will focus on young entrepreneurs who have entered new business arenas.

The Greek Host Committee and Business Advisory Council will welcome Summit delegates at the historic Zappeion, site of the first in-door Olympic Games. A post-Summit excursion to Crete is also planned, details for which will be made available in the coming weeks. For a video that breaks ‘Greek Myths’, click to the link on the left.  For the registration form, early bird rates, hotel information, go to www.globewomen.org, click to the Global Summit of Women.



Countries with quotas and other initiatives to increase the number of women on corporate boards are moving ahead in changing the face of corporate leadership, especially in Europe.  A new report by Corporate Women Directors International on women on the boards of the 200 largest companies in the world ranks France first for the fastest rate of increase, as it moved from 7.2% board directorships held by women in 2004 to 20.1% in 2011, due largely to a quota passed only last year. Coming in second is Spain, whose quota law passed in 2007 helped to increase its representation of women on corporate boards from 1.9% in 2004 to 9.2% currently.  This rate of increase would not have been possible in years past when 1% yearly increase is the norm. Quota laws for women directors that were triggered by Norway’s in 2003 have now been passed not only in France and Spain, but also in Iceland, the Netherlands, Belgium, Italy and most recently adopted in Malaysia in the form of an executive order from the Prime Minister.


While quotas are beginning to crack the boardroom glass ceiling, the average percentage of board seats held by women in the Fortune Global 200 companies is a dismal 13.8%.  U.S. companies in the Fortune listing still post the highest percentage of women directors at 20.8%, but will soon be outpaced by French companies, given the rate at which they’re adding women directors.  This year’s Top Ten list of best performing companies in terms of female board appointments has U.S. retail giant Procter & Gamble in first place with 45.6% of its board made up of women, followed by a healthcare company, Wellpoint, which ranked second with 41.7% female directors, and Norway’s Statoil coming in third with 40% of board seats held by women.


The 2011 CWDI Report was released at a World Bank forum with directors from Top Ten companies – Jane Shaw, Chair of Intel’s Board;  Ana Maria Llopis, Chair of Dia S.A. Board in Spain and board director of France’s Societe Generale, Sol Trujillo, board director of Target and former CEO of US West, Orange SA and Telstra;  and Elaine Chao, board director of Wells Fargo and former U.S. Secretary of Labor.  This year’s report is the 18th conducted by CWDI in its 15-year history. “We have been counting women on boards for some time now to establish benchmarks globally, and I am excited for the first time to see the needle beginning to move for women directors primarily in Europe,” states CWDI Chair Irene Natividad.  (For Key Findings and order form for the 2011 CWDI Report on the Fortune Global 200, go to www.globewomen.org click to CWDI.)



Two new women CEOs have recently been added to a very smallclub ofU.S.female corporate leaders in theFortune500. Membership in this elite group now numbers14, or 2.8% of all CEOs in thisFortunelisting of the largestU.S.companies.

·Virginia Romettyis the new CEO of the 100-year-old IBMCorporation. A systems engineer when shejoined the company in 1981, the 54-year-old executive rose through the ranks tobecome Chief of IBM’s Global Sales. Credited with the successful acquisition of PriceWaterhouseCoopersConsulting, Rometty will run the 18thlargest company in theU.S., where she has worked for threedecades.


Rometty joins Meg Whitman, newly appointed CEO of Hewlett Packardand Ursula Burns, CEO of Xerox as leaders of three of the largest technologycompanies in the U.S. Fewwomen are in charge in the technology industry, so the appointment of thesethree women is seen as a hopeful sign that more will follow in theirfootsteps


·Gracia Martoreassumes the post of CEO of GannettCorporation, whose assets include 82 daily newspapers, the biggest beingUSA Today,and 23 TV stations. Like Rometty,Martore is a veteran of the company she is poised to lead, which she joined in1985. She comes to her new positionafter being second in command since 2005, so she is familiar with itsdemands.


The Chairman of Gannett’s board is MarjorieMagner, partner in a private equity firm. This gives Gannett the distinction of having women serving as CEO andBoard Chair, probably the only multibillion dollar company with this line-up atthe top.


Outside of theU.S.,Switzerlandhas a new womanCEO of Swiss Post,Susanne Ruoff. An economistby background, Ms. Ruoff spent 20 years at IBM Switzerland and has a strongtechnology background which made her attractive to Swisspost as it seeks to moveinto digital areas of business to complement the physical. For the past two years, she has served asCountry Manager for British TelecomSwitzerland. To see CWDI’s 2011 Report’s Key Findings onWomen CEOs – OpeningDoors to Board Rooms and C-Suites,go towww.globewomen.org, click to CWDI.


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