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Women managers of multinational companies under pressure
7-8-2017
In its issue of today, Al Hayat newspaper wrote about the lay-off of two women CEOs in two major US companies as a result of pressure exerted by financiers on women chairs of multinationals. This has dealt a serious blow to efforts seeking to enhance boardroom gender equality. The newspaper pointed out that a number of women stockbrokers or who top leading stock companies have been the target for giant Wall Street financiers who managed to throw out 2 females while manipulating the rest to stay under their sway. Al Hayat cited figures showing that females chair the boards of only 23 out of 500 companies covered by the leading indicator of US equities, Standard & Poor’s 500 Index (that is by 5.4% only). On the subject, Christine Shropshire, researcher at Arizona State University, said in an interview with AFP, that gender, among all factors studied, has a vital and significant impact. She said that she has reviewed applications received between 2003 and 2013 by US companies of active investors who break in the capital of those companies to pressure the decisions of their administrators. "In comparing two similar companies in terms of size and financial performance, we noticed that the company appointing a woman on its board has been suspiciously antagonized after the appointment," Shropshire maintained. Financiers, she concluded, consider females holding CEO positions as weak and lacking confidence. (Al Hayat 7 August 2017)
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