Catalyst: Press Releases

New Catalyst Study Shows Women Vastly Underrepresented in Corporate Canada’s Boardrooms

Wed, 03 Mar 2010 00:00:00 -0500

TORONTO (March 3, 2010) – Forty years after the Royal Commission on the Status of Women took steps to ensure that women had equal opportunities with men in all aspects of Canadian society, gender equality remains elusive in Canada’s boardrooms. Findings from the 2009 Catalyst Census: Financial Post 500 Women Board Directors, released today at a Women of Influence luncheon in Toronto, reveal that women hold 14 percent of director positions in the FP500, an increase of only one percentage point in two years. Moreover, the study showed that nearly 45 percent of public companies have no women board directors at all.

“Corporate Canada must recognize that, competitively, they are playing with ‘half a deck’ when they ignore the marketplace and workforce and overlook appointing women to board service,” said Deborah Gillis, Catalyst’s Vice President, North America. “In 2010, the argument that companies can’t find women to sit on boards simply doesn’t work. Catalyst research shows that looking beyond company heads—21 women currently lead FP500 companies— to the broader corporate officer pool expands by more than 30 times the number of qualified women available for board service.”

Among the study’s findings were the following:

Women held just 10.3 percent of board seats in Canadian public companies compared to 15.2 percent of Fortune 500 companies, most of which are public.
As in 2007, in 2009, crown companies had the highest representation of women on their boards while public companies had the lowest.
Private companies saw the biggest boost, where the percentage of women board directors increased four percentage points (12 percent in 2007 to 16 percent in 2009).
The Arts, Entertainment and Recreation industry led in representation of women board directors, while the Mining, Quarrying, and Oil and Gas Extraction industry had the lowest.

Ms. Gillis pointed to the need for Canadian companies to “nab the best women now”— or risk losing them to proactive, multi-national companies already seeking to add qualified women to their boards. “Canadian companies and their recruiters need to act quickly and broaden the criteria for board roles, ” said Ms. Gillis.

Since Catalyst’s research shows a strong correlation between women’s representation on boards and better financial performance, shareholders—women and men—have an interest in calling for equity in the boardroom, according to Catalyst. At the same time, Catalyst recommends that individual leaders tap into the broad range of qualified women candidates, call for diverse slates, and advance names of qualified and talented women to nominating committees.

For media enquiries: please contact Charmain Emerson, Building Block Communications (416) 588-8514 (work), (416) 857-9401 (mobile), charmain@building-blocks.ca; or Susan Nierenberg, Catalyst, (646) 388-7744 (direct), (212) 514-7600 ext. 333 (work), snierenberg@catalyst.org

ABOUT THIS STUDY
The 2009 Catalyst Census: Financial Post 500 Women Board Directors is a rigorous and precise count of the women on boards in FP500 companies as of June 2, 2009. Catalyst gathered data from public sources, including annual reports, annual information forms, proxy statements, and government databases. To ensure the accuracy of the data, Catalyst provided companies with timely opportunities to confirm the accuracy of their data. In 2009, 478 of the 500 companies (95.6 percent) verified their data.

ABOUT CATALYST
Founded in 1962, Catalyst is the leading nonprofit membership organization working globally with businesses and the professions to build inclusive workplaces and expand opportunities for women and business. With offices in the United States, Canada, and Europe, and more than 400 preeminent corporations as members, Catalyst is the trusted resource for research, information, and advice about women at work. Catalyst annually honors exemplary organizational initiatives that promote women’s advancement with the Catalyst Award.

Women Experience Inequities at Every Career Stage, Even After Decades of Well-Intentioned Efforts

Thu, 18 Feb 2010 00:00:00 -0500

NEW YORK (February 18, 2010) — Women lag behind men in both job level and salary starting from their first position post-business school and do not catch up, according to Catalyst’s Pipeline’s Broken Promise, the latest report examining high potential graduates from top business schools around the world. The study, released today, reveals that the assertion that women advance in compensation and level at the same pace as men is overstated and, in many cases, completely wrong.

The report, part of a broad, ongoing study of thousands of women and men MBA alumni in the United States, Canada, Europe, and Asia, provides a global analysis of the pace of progress for these high potential employees. Even after taking into account experience, industry, and region, the report found women start at lower levels than men, make on average $4,600 less in their initial jobs, and continue to be outpaced by men in rank and salary growth. Only when women begin their post-MBA career at mid-management or above do they achieve parity in position with men. However, this accounts for only 10 percent of the women and 19 percent of the men surveyed.

“ ‘Give it time,’ has run its course,” said Ilene H. Lang, President & Chief Executive Officer, Catalyst. “In a world where women comprise 40 percent of the global workforce and are earning advanced and professional degrees in record numbers—even surpassing men in many cases—gender inequity is a waste. Companies without parity for women at all levels are unsustainable. Smart leaders will act now or risk falling behind.”

Men, the report showed, were twice as likely as women to hold CEO or senior executive positions and less likely to be at lower levels, where women were overrepresented. Parenthood and level of aspiration did not explain the results. The findings held when considering women and men without children as well as those who aspired to senior leadership positions. Men, in general, were also found to be more satisfied with their careers overall than women. Thus, despite well—intentioned programs, companies around the globe have neglected to develop talented women and failed to build meritocracies.

CEOs and executives from major companies offered insights and suggestions on the study’s findings throughout the report. Some of these include:

Don’t assume that the playing field has been leveled.
Redesign systems to correct early inequities.
Collect and review salary growth metrics.
Build in checks and balances against unconscious bias.
Make assignments based on qualifications, not presumptions.

Sponsors of Pipeline’s Broken Promise include American Express Company at the President’s Circle level; Barclays Capital at the Executive Circle level; and at the Mentor Circle level Chevron Corporation, Credit Suisse Group, General Motors Company, The Procter & Gamble Company, and Scotiabank. For more information on this and other Catalyst research, please visit our website at www.catalyst.org. For media inquiries, please contact Susan Nierenberg, snierenberg@catalyst.org, 646-388-7744; Serena Fong, sfong@catalyst.org, 646-388-7757; or Jeff Barth, jbarth@catalyst.org, 646-388-7725.

ABOUT THIS STUDY
This research is part of The Promise of Future Leadership: A Research Program on Highly Talented Employees in the Pipeline, a longitudinal study on high potential talent. Between Fall 2007 and Spring 2008, Catalyst conducted an online survey of alumni who graduated between 1996 and 2007 from MBA programs at 26 leading business schools in Asia, Canada, Europe, and the United States. Report findings draw from the 4,143 respondents who completed full-time MBA programs and worked full-time in companies or firms at the time of the survey.

Catalyst Canada Launches The Catalyst Canada Honours and Opens Nominations for Champions of Women in Canadian Business

Tue, 09 Feb 2010 00:00:00 -0500

TORONTO (February 9, 2010) – Catalyst Canada announces a call for nominations for The Catalyst Canada Honours ~ Celebrating Champions of Women in Business, which recognizes individuals who have made a critical and visible difference to women’s advancement. Reflecting the crucial role played by senior executives in support of diversity, The Catalyst Canada Honours will pay tribute to the achievements of three champions—a CEO/Firm Leader, a Business Leader, and a Human Resources/Diversity Leader—who in their careers exemplify exceptional leadership around advancing women in their organizations, industries, and communities. With anticipation that these women and men serve as powerful role models, The Catalyst Canada Honours hopes to inspire women and men leaders to step up and become champions themselves.

The introduction of the Catalyst Canada Honours marks Catalyst's tenth anniversary in Canada. Both will be celebrated at a gala dinner chaired by Bill Downe, President and CEO, BMO Financial Group, on October 6, 2010, in Toronto.

"BMO and Catalyst have a long-standing partnership that's built on a shared aspiration," said Mr. Downe. "The opportunity for us all to become personally involved and to benefit from advancing talented women to leadership is the reason behind The Catalyst Canada Honours."

"When Catalyst Canada opened its doors ten years ago, visible champions of women in business were rare," said Deborah Gillis, Vice President, North America, Catalyst. "Today the environment has shifted significantly. It's widely recognized that advancing women to senior executive and board positions is good for business, and champions are vital to this progress. In celebrating today's champions, we hope to inspire a robust pipeline of women and men leaders who will mentor, support, and promote the advancement of women in Canadian business."

GUIDELINES AND NOMINATIONS

Catalyst Canada looks for leadership behaviours that have had a visible impact on the advancement of women both inside and outside the nominee's organization: motivation and understanding; mentorship and sponsorship; role modeling; work-life effectiveness; and influencing others. Nomination submissions are due March 23, 2010.

For inquiries about The Catalyst Canada Honours nomination process or to purchase tables for The Catalyst Canada Honours dinner, please contact Diana Nind at canadahonours@catalyst.org or 416-815-7600 ext. 621. For media inquiries, please contact Charmaine Emerson, charmain@building-blocks.ca 416-588-8514; or Susan Nierenberg, snierienberg@catalyst.org 646-388-7744.

ABOUT CATALYST

Founded in 1962, Catalyst is the leading nonprofit membership organization working globally with businesses and the professions to build inclusive workplaces and expand opportunities for women and business. With offices in the United States, Canada, and Europe, and more than 400 preeminent corporations as members, Catalyst is the trusted resource for research, information, and advice about women at work. Catalyst annually honors exemplary organizational intiatives that promote women's advancement with the Catalyst Award.

Catalyst Receives KICK Award Celebrating its Work on Advancing Leadership Opportunities for Women

Wed, 27 Jan 2010 00:00:00 -0500

LOS ANGELES (January 27, 2010) — Catalyst received the Betsy Wood Knapp Innovator Award at The Knapp Innovation, Creativity & Knowledge (KICK) Conference, a partnership between The Knapp Foundation and UCLA Anderson School of Management, held January 22, 2010, in Los Angeles. The award is given to an individual or organization that serves as a contemporary role model for women, and exemplifies innovation, entrepreneurship, and character. Catalyst is the first-ever recipient of the award, and was recognized for its dedication to providing extensive gender-related research, building inclusive workplaces, and expanding opportunities for women and business.

”Catalyst continues to work towards a world that supports and encourages every women in her career aspirations and places no limits on where her skills and energy can take her,” said Ilene H. Lang, President & Chief Executive Officer, Catalyst. “We are honored to receive the Betsy Wood Knapp Innovator Award and believe it helps reflect Catalyst’s vision – ‘Changing workplaces. Changing lives.’”

Conceived and developed in part by the entrepreneur and co-founder of The Knapp Foundation Betsy Wood Knapp, the KICK Conference was designed to offer women insights about leadership and inspire and empower women across generations with new tools to achieve success. The event, also presented by the Harold and Pauline Price Center for Entrepreneurial Studies, brought together more than 300 business, government, academic, and industry leaders, along with current MBA, college, and high school women and men.

For more information about Catalyst, visit www.catalyst.org. For media inquiries please contact Serena Fong, 646-388-7757, sfong@catalyst.org, or Jeff Barth, 646-388-7725, jbarth@catalyst.org.

ABOUT THE KNAPP FOUNDATION
Established in 1993, by Cleon T. (Bud) and Betsy Wood Knapp, The Knapp Foundation seeks to enrich the artistic, intellectual and physical qualities of life through its support of the cultural and economic well-being of our communities.

The Foundation supports projects and research which accomplish the following:

Strengthen the programs of institutions
Incorporate new media and technology
Utilize innovative strategies

ABOUT UCLA ANDERSON SCHOOL OF MANAGEMENT
UCLA Anderson School of Management, established in 1935, is regarded among the leading business schools in the world. UCLA Anderson faculty members are renowned for their teaching excellence and research in advancing management thinking. Each year, UCLA Anderson provides management education to more than 1,800 students enrolled in MBA, Fully-Employed MBA, Executive MBA, UCLA-NUS Global Executive MBA, Master of Financial Engineering, and doctoral programs, and to more than 2,000 professional managers through executive education programs. Combining highly selective admissions, varied and innovative learning programs, and a world-wide network of 36,000 alumni, UCLA Anderson develops and prepares global leaders.

Catalyst Recognizes Initiatives at Campbell Soup Company, Deloitte, Royal Bank of Canada, and Telstra with the 2010 Catalyst Award

Thu, 21 Jan 2010 00:00:00 -0500

NEW YORK (January 21, 2010) — Catalyst announces that initiatives from Campbell Soup Company, Deloitte LLP, Royal Bank of Canada (RBC), and Telstra Corporation Limited are the recipients of the 2010 Catalyst Award, the annual award that honors exceptional initiatives from companies and firms that support and advance women in business. This year’s Award winners, representing a wide range of industries, cultures, and approaches, demonstrate the strong business case supporting women’s advancement to leadership.

“These initiatives exemplify our Catalyst vision –‘Changing workplaces. Changing lives’,” said Ilene H. Lang, President & Chief Executive Officer of Catalyst. “They impact the lives of employees, families, and communities by transforming organizations, and serve as models that inspire and encourage others to embrace inclusive workplaces that benefit women, men, and business.”

Catalyst Award-winning initiatives are evaluated in a rigorous year-long process against a robust set of criteria: business rationale, senior leadership support, accountability, communication, replicability, originality, and measurable results. This year’s Award winners include a company where women run the largest and most profitable businesses, a second-time Catalyst Award-winning company, a premiere Canadian bank that expanded its women’s initiative to benefit other diverse employee groups, and the first initiative from a leading Australian company. These Award-winning initiatives reflect best practices around diversity, inclusion, and advancement of women to leadership roles and positions of influence.

Campbell Soup’s initiative, Winning in the Workplace, Winning in the Marketplace, Winning With Women, has utilized employee engagement, knowledge sharing, and innovation to develop a culture of diversity and inclusion and support the company’s overall plan to transform its workplace and marketplace performance. It has achieved strong results: from 2005 to 2009, women in executive roles increased from 21 percent to 25 percent. In manufacturing roles, the percentage of women and women of color plant directors and managers increased from 14 percent to 21 percent, and from 1 percent to 3 percent, respectively.

Deloitte’s The Women’s Initiative: Living the Lattice, builds on the success of the Task Force of the Initiative for the Retention and Advancement of Women. The mission of the Women’s Initiative (WIN) is to drive marketplace growth and create a culture where the best talent chooses to work. It has fueled significant increases for women in leadership: women’s representation as partners, principals, and directors has risen from 6 percent in 1995 to 22 percent in 2009, and representation of women senior managers has increased from 23 percent to 36 percent in the same timeframe. In addition, the gender turnover gap decreased from 7 percent in 1995 to less than 1 percent during 2009. Deloitte reached an additional milestone in 2009 when it surpassed the 1,000 mark for U.S. women partners, principals, and directors.

RBC’s initiative, Client First Transformation, embeds diversity and inclusion (D&I) principles into its approach with employees, clients, and communities, reframing the company’s business strategy to be more client-focused and revitalizing its corporate culture. Among other significant business benefits, the initiative continues to generate solid increases for women across the company: building on a strong base, women in executive roles (executive vice presidents, senior vice presidents, and vice presidents) increased from 35 percent to 39 percent from 2005 to 2009, and women’s representation as corporate officers (senior vice president level and above) has grown from 27 percent to more than 30 percent during that same time period. Women in the high-potential talent pool increased from 31 percent to 43 percent, with 21 percent being visible minority women.

Telstra’s Next Generation Gender Diversity initiative uses an integrated approach to increase women’s representation at senior and pipeline levels and engage men as change agents, creating an inclusive culture of mentoring and networking. It has delivered solid increases for women leaders at Telstra and in the community: for women in the pipeline (general managers, area managers, and managers), total share of promotions grew steadily from 29 percent in 2006 to 41 percent in 2009. Representation of women on the CEO Leadership Team increased from 6 percent to 31 percent, and the number of women corporate officers has grown from 31 percent to 35 percent during that same time period.

Campbell Soup, Deloitte, RBC, and Telstra will present in-depth discussions on their initiatives at the 2010 Catalyst Awards Conference at The Waldorf=Astoria in New York on March 24, 2010. The conference, which is sponsored by The Coca-Cola Company and Walmart, will feature keynote speaker Anne Mulcahy, Chairman of Xerox Corporation. In the evening, the 2010 Catalyst Awards Dinner, sponsored by PepsiCo, Inc. and Shell Oil Company, will be chaired by Jim Skinner, Chief Executive Officer of McDonald’s Corporation. More than 70 CEOs and leaders of major corporations, firms, academic institutions, and non-profit organizations are expected to attend, along with more than 1,500 guests representing 250 national and global companies.

For complete descriptions of this year’s Catalyst Award-winning initiatives and previous Award winners, please visit www.catalyst.org. For more information about the 2010 Catalyst Awards Conference and Dinner, please contact Michael J. Chamberlain, 646-388-7770, mchamberlain@catalyst.org. For media inquiries, please contact Susan Nierenberg, 646-388-7744, snierenberg@catalyst.org, Serena Fong, 646-388-7757, sfong@catalyst.org, or Jeff Barth, 646-388-7725, jbarth@catalyst.org. For international media inquiries specifically, please contact Susan Nierenberg.

ABOUT THE CATALYST AWARD
The Catalyst Award annually honors innovative approaches with proven results taken by organizations to address the recruitment, development, and advancement of all managerial women, including women of color. Catalyst’s rigorous, year-long examination of initiatives and their measurable results culminates in intensive on-site reviews at finalist organizations. By celebrating successful initiatives, Catalyst provides organizations with replicable models to help them create initiatives that are good for women and good for business.

ABOUT CAMPBELL SOUP COMPANY
Campbell Soup Company is a global manufacturer and marketer of high-quality foods and simple meals, including soup, baked snacks, and healthy beverages. Founded in 1869, the company has a portfolio of market-leading brands, including "Campbell's," "Pepperidge Farm," "Arnott's," and "V8."

ABOUT DELOITTE LLP
Deloitte LLP is one of the nation’s leading professional services firms, providing audit, tax, consulting, and financial advisory services through 45,000 people in more than 90 cities. Known as an employer of choice, it views attracting, retaining and developing its people as a business imperative to serve clients and grow its business.

ABOUT RBC
Royal Bank of Canada (RY on TSX and NYSE) and its subsidiaries operate under the master brand name RBC. We are Canada’s largest bank as measured by assets and market capitalization, one of North America’s leading diversified financial services companies and among the largest banks in the world, as measured by market capitalization. We provide personal and commercial banking, wealth management services, insurance, corporate and investment banking and transaction processing services on a global basis. We employ approximately 80,000 full- and part-time employees who serve more than 18 million personal, business, public sector and institutional clients through offices in Canada, the U.S. and 53 other countries.

ABOUT TELSTRA CORPORATION LIMITED
Telstra is Australia's leading telecommunications and information services company, with one of the best known brands in the country. Telstra offers a full range of services and competes in all telecommunications markets throughout Australia, providing more than 9.0 million Australian fixed line and 10.2 million mobile services, including 6.3 million 3G services. Telstra provides basic access services to most homes and businesses in Australia; local and long distance telephone calls in Australia and international calls to and from Australia; mobile telecommunications services; broadband access and content; a comprehensive range of data and Internet services (including through Telstra BigPond®); management of business customers' IT and/or telecommunications services; wholesale services to other carriers, carriage service providers and ISPs; advertising, search and information services (through Sensis); and cable distribution services for FOXTEL's® cable subscription television services. Telstra's international businesses include CSL New World Mobility Group, TelstraClear Limited and Reach Ltd.

2009 Catalyst Census of the Fortune 500 Reveals Women Missing From Critical Business Leadership (Canada)

Wed, 09 Dec 2009 00:00:00 -0500

NEW YORK (December 9, 2009) — Companies are still lagging in appointing women to board seats and very few women hold Executive Officer positions, according to the 2009 Catalyst Census: Fortune 500 Women Board Directors and the 2009 Catalyst Census: Fortune 500 Women Executive Officers and Top Earners. “The time is up for ‘give it time.’ Women are approximately 50 percent of the labor pool and influence over 70 percent of household spending in the United States. It’s just smart business to include women in the decision-making process, and companies should implement strategies that set targets and timetables to do so,” said Ilene H. Lang, President & Chief Executive Officer of Catalyst.

This latest research shows women’s share of board positions stagnated:

Women held 15.2 percent of board seats, a number that reflects little growth over the past five years.
Women of color held 3.1 percent of all board director positions, compared to 3.2 last year.
Almost 90 percent of companies had at least one woman director, but less than 20 percent had three or more women serving together.
Women’s share of nominating/governance committee chairs is the only board leadership position in which women are keeping pace with their share of overall board seats.
Women’s share of board chair positions remained flat at 2.0 percent.

This year, Catalyst examined the Fortune 500 Executive Officer pool, a segment of the Corporate Officer pool used in previous Catalyst Census reports. Women’s representation among this group was unimpressive:

Women made up 13.5 percent of Executive Officer positions and 6.3 percent of top earner positions.
Almost 30 percent of companies had no women Executive Officers.
Less than one-fifth of companies had three or more women Executive Officers.

“It’s not enough to recognize the need to advance women into leadership positions. It’s time to execute on it,” said Ms. Lang. “You cannot be a successful global business leader without women in your leadership. Catalyst research shows that companies with more women in leadership, on average, outperform those with fewer women, and those with three or more women board directors do even better. It’s time businesses take action and leverage the talent that women bring to the workplace. It’s good for women, good for men, and as our research demonstrates, good for business.”

Ernst & Young is the sponsor of the 2009 Catalyst Census: Fortune 500 Women Board Directors and the 2009 Catalyst Census: Fortune 500 Women Executive Officers and Top Earners. Appendices to the reports are available at www.catalyst.org. For media inquiries please contact Charmain Emerson, at 416-588-8514, charmain@building-blocks.ca, or Susan Nierenberg, at 646-388-7744, snierenberg@catalyst.org.

METHODOLOGY
For 2009, Catalyst gathered public data only from Securities and Exchange Commission (SEC) annual filings submitted by June 30, 2009. For insurance companies that do not file with the SEC, Catalyst obtained data from the National Association of Insurance Commissioners’ (NAIC) regulatory database of key annual statements submitted by June 30, 2009. Data collected by the SEC and NAIC comply with federal or state requirements governing the content and timing of the filings, resulting in more equivalent comparisons across companies. Individuals included in the 2009 Catalyst Census: Fortune 500 Women Board Directors report are those listed in SEC filings as serving on the board up to the annual meeting of shareholders and those listed in NAIC filings as Directors. The population of directors was not significantly altered by the methodology change, permitting comparisons to data from previous annual board director Catalyst Census reports.

Individuals included in the 2009 Catalyst Census: Fortune 500 Women Executive Officers and Top Earners report are those listed as Executive Officers in SEC filings and those listed in NAIC filings as Officers. Executive Officers represent a segment of the Corporate Officer population as defined in previous Catalyst Census reports. The population change makes comparisons to data from previous annual Corporate Officer Catalyst Census reports inappropriate.

2009 Catalyst Census of the Fortune 500 Reveals Women Missing From Critical Business Leadership

Wed, 09 Dec 2009 00:00:00 -0500

NEW YORK (December 9, 2009) – Companies are still lagging in appointing women to board seats and very few women hold Executive Officer positions, according to the 2009 Catalyst Census: Fortune 500 Women Board Directors and the 2009 Catalyst Census: Fortune 500 Women Executive Officers and Top Earners. “The time is up for ‘give it time.’ Women are approximately 50 percent of the labor pool and influence over 70 percent of household spending in the United States. It’s just smart business to include women in the decision-making process, and companies should implement strategies that set targets and timetables to do so,” said Ilene H. Lang, President & Chief Executive Officer of Catalyst.

This latest research shows women’s share of board positions stagnated:

Women held 15.2 percent of board seats, a number that reflects little growth over the past five years.
Women of color held 3.1 percent of all board director positions, compared to 3.2 last year.
Almost 90 percent of companies had at least one woman director, but less than 20 percent had three or more women serving together.
Women’s share of nominating/governance committee chairs is the only board leadership position in which women are keeping pace with their share of overall board seats.
Women’s share of board chair positions remained flat at 2.0 percent.

Women made up 13.5 percent of Executive Officer positions and 6.3 percent of top earner positions.
Almost 30 percent of companies had no women Executive Officers.
Less than one-fifth of companies had three or more women Executive Officers.

Ernst & Young is the sponsor of the 2009 Catalyst Census: Fortune 500 Women Board Directors and the 2009 Catalyst Census: Fortune 500 Women Executive Officers and Top Earners. Appendices to the reports are available at www.catalyst.org. For media inquiries please contact Serena Fong, at 646-388-7757, sfong@catalyst.org, or Jeff Barth, at 646-388-7725, jbarth@catalyst.org.

METHODOLOGY
For 2009, Catalyst gathered public data only from Securities and Exchange Commission (SEC) annual filings submitted by June 30, 2009. For insurance companies that do not file with the SEC, Catalyst obtained data from the National Association of Insurance Commissioners’ (NAIC) regulatory database of key annual statements submitted by June 30, 2009. Data collected by the SEC and NAIC comply with federal or state requirements governing the content and timing of the filings, resulting in more equivalent comparisons across companies. Individuals included in the 2009 Catalyst Census: Fortune 500 Women Board Directors report are those listed in SEC filings as serving on the board up to the annual meeting of shareholders and those listed in NAIC filings as Directors. The population of directors was not significantly altered by the methodology change, permitting comparisons to data from previous annual board director Catalyst Census reports.

McDonald’s Chief Executive Officer Jim Skinner to Chair 2010 Catalyst Awards Dinner, and Xerox Chairman Anne Mulcahy to Keynote 2010 Catalyst Awards Conference

Wed, 18 Nov 2009 00:00:00 -0500

NEW YORK (November 18, 2009) — Catalyst announced today that Jim Skinner, Chief Executive Officer of McDonald’s Corporation, will serve as Chair of the 2010 Catalyst Awards Dinner and Anne M. Mulcahy, Chairman of Xerox Corporation, will deliver the keynote address at the 2010 Catalyst Awards Conference. The Conference and Dinner, which will be held at The Waldorf=Astoria on Wednesday, March 24, 2010, in New York, celebrate the 2010 Catalyst Award winners for outstanding business initiatives that advance women and business.

“Jim Skinner and Anne Mulcahy honor the Catalyst Awards dinner and conference with their exemplary leadership in expanding opportunities for women in the workplace,” said Ilene H. Lang, President & Chief Executive Officer of Catalyst. “At the highest level and throughout their respective careers, they both demonstrate a commitment to advancing women to business leadership and to creating inclusive workplaces that encourage diversity and broad talent development."

Mr. Skinner was elected McDonald’s Vice Chairman and Chief Executive Officer in November 2004 after working in numerous leadership positions, including President and Chief Operating Officer of McDonald’s Restaurant Group. McDonald’s has one of the largest number of minority and female franchisees in the quick service industry and won the Catalyst Award in 1994 for its initiative, McDonald’s Partnership with Women, which ensured the company’s workforce and franchise owners/operators reflected the diversity of the business community.

Ms. Mulcahy began her career with Xerox in 1976 as a field sales representative and was appointed Chief Executive Officer in August of 2001. She retired from the post on July 1, 2009 and retains the title of Chairman. Under her leadership, Ursula Burns became the first black woman CEO of a Fortune 500 company. In addition to the Xerox board, Ms. Mulcahy serves on the Catalyst Board of Directors and on the boards of Citigroup Inc., Fuji Xerox Company, Ltd., Target Corporation, and The Washington Post Company.

Each year, the Catalyst Award is presented to companies and firms with outstanding initiatives that produce measurable results in women’s career development and advancement and provide the business community with replicable practices that are good for women and good for business. The 2010 Catalyst Awards Dinner is sponsored by PepsiCo, Inc. and Shell Oil Company, and the 2010 Catalyst Awards Conference is sponsored by The Coca-Cola Company and Walmart.

Learn more about Catalyst and the Catalyst Award. To purchase a table for the 2010 Catalyst Awards Dinner, please contact Megan Kincaid Kramer, 646-388-7736, mkincaid@catalyst.org. For media inquiries, please contact Serena Fong, 646-388-7757, sfong@catalyst.org, or Jeff Barth, 646-388-7725, jbarth@catalyst.org.

Despite the Recession, Many High Potential Employees Jump Ship

Tue, 18 Aug 2009 00:00:00 -0400

NEW YORK (August 18, 2009) — High potential employees aren’t afraid to strike out for greater opportunities despite the continuing recession, according to a study of how the best and brightest of high potential talent have weathered the global recession over the past 18 months. The report released by Catalyst, Opportunity or Setback? High Potential Women and Men During Economic Crisis, offers a surprising overview of the current workplace and recommends that even during international economic instability, employee retention must remain a foremost concern for businesses.

The report, part of a longitudinal study of MBA alumni who graduated between 1996 and 2007 from top business schools around the world, provides a myth-busting snapshot of how corporate management views these high potentials, and how women fare compared with men in the United States, Canada, Europe, and Asia. According to the report, more than a third of these skilled women and men received workplace promotions, with Canadian high potentials receiving fewer promotions (23 percent) compared to European (41 percent), Asian (40 percent), and those in the United States (33 percent). This signified employers’ willingness to support this talent pool. Yet, a full 20 percent jumped ship, choosing greater opportunity in the face of the uncertain economy.

The study demonstrated that job loss due to downsizing or organizations closing did not substantially affect women more than men. In addition, women did not trade the workplace for home, with nine percent leaving the workforce voluntarily but with 10 percent returning. In fact, they matched men move for move in relocating both within and outside their countries, taking temporary international assignments, leaving for new business ventures, making lateral job moves, and job-hopping.

“With few exceptions, the downturn has been an equal opportunity crisis, affecting women and men similarly,” said Ilene H. Lang, President & Chief Executive Officer of Catalyst. “Top talent around the globe remain confident in their ability to obtain new positions. Businesses cannot afford to assume that the poor economy will keep these high potential women and men from actively seeking better opportunities.”

However, the report showed that women in leadership positions were disproportionately hit. A startling 19 percent of senior women lost their jobs versus just six percent of men. Promotions in Europe were also heavily weighted in favor of men, at 44 percent compared to only 26 percent of women.

Overall, this study demonstrated that high potential women and men are successfully working through the recession with continued choices in employment and prospects for growth. Talent managers who view the economy as an opportunity to scale down on retention efforts should seriously reconsider in light of these surprising findings.

American Express Company is the Exclusive Lead Project Sponsor of Opportunity or Setback? High Potential Women and Men During Economic Crisis. Barclays Capital is the Lead Sponsor, and Chevron Corporation, Credit Suisse Group, General Motors Corporation, Procter & Gamble Company, and Scotiabank are Partnering Sponsors. For more information on this and other Catalyst research, please visit our website at www.catalyst.org. For media inquiries, please contact Susan Nierenberg, snierenberg@catalyst.org, 646-388-7744; Serena Fong, sfong@catalyst.org, 646-388-7757; or Jeff Barth, jbarth@catalyst.org, 646-388-7725.

ABOUT THIS STUDY
This research is part of The Promise of Future Leadership: A Research Program on Highly Talented Employees in the Pipeline, a longitudinal study on high potential talent. Between Fall 2007 and Spring 2008, Catalyst conducted an online survey of alumni who graduated between 1996 and 2007 from full-time MBA programs at 26 leading business schools in Asia, Canada, Europe, and the United States. In the spring of 2009, Catalyst invited alumni who, at the time of the initial survey were working full-time in a company or firm and who had expressed interest in participating in future studies, to participate in this survey on effects of the economy. Catalyst analyzed data on 873 respondents.

Despite the Recession, Many High Potential Employees Jump Ship (Canada)

Tue, 18 Aug 2009 00:00:00 -0400

NEW YORK (August 18, 2009) — High potential employees aren’t afraid to strike out for greater opportunities despite the continuing recession, according to a study of how the best and brightest of high potential talent have weathered the global recession over the past 18 months. The report released by Catalyst, Opportunity or Setback? High Potential Women and Men During Economic Crisis, offers a surprising overview of the current workplace and recommends that even during international economic instability, employee retention must remain a foremost concern for businesses.

The report, part of a longitudinal study of MBA alumni who graduated between 1996 and 2007 from top business schools around the world, provides a myth-busting snapshot of how corporate management views these high potentials, and how women fare compared with men in the United States., Canada, Europe, and Asia. According to the report, more than a third of these skilled women and men received workplace promotions, with Canadian high potentials receiving fewer promotions (23 percent) compared to European (41 percent), Asian (40 percent), and those in the United States (33 percent). This signified employers’ willingness to support this talent pool. Yet, a full 20 percent jumped ship, choosing greater opportunity in the face of the uncertain economy.

“Clearly, there are noteworthy findings around promotions during the economic recession for high potential employees working in Canada,” said Deborah Gillis, Vice President, North America, Catalyst. “The study also indicates that this group is mobile—job shopping and hopping despite economic trends. Companies should pay attention and make sure that policies are in place to develop this talent or face the risk that they will go elsewhere, at a cost and loss to their organizations.”

American Express Company is the Exclusive Lead Project Sponsor of Opportunity or Setback? High Potential Women and Men During Economic Crisis. Barclays Capital is the Lead Sponsor, and Chevron Corporation, Credit Suisse Group, General Motors Corporation, Procter & Gamble Company, and Scotiabank are Partnering Sponsors. For more information on this and other Catalyst research, please visit our website at www.catalyst.org. For more information on this and other Catalyst research, please visit our website at www.catalyst.org. For media inquiries, please contact: Charmain Emerson, 416-588-8514, charmain@building-blocks.com; or Susan Nierenberg, 646-388-7744, snierenberg@catalyst.org.