Since the Great Recession, more women are replacing male CEOs ‘because a lot of times men don’t want the job’ – MarketWatch

Since the Great Recession, more women are replacing male CEOs ‘because a lot of times men don’t want the job’ – MarketWatch

Marissa Mayer
Women CEOs are on the rise.Corporate America has a long way to go to clear out the corner office for more female CEOs, but there’s been a dramatic shift over the last decade.
Nearly 22% of new chief executives were women in the first half of 2019, up from 12% during the same period in 2010, according to an analysis released Thursday by Challenger, Gray & Christmas, a Chicago-based out-placement and career transitioning firm. Of the 607 replacement CEOs recorded in the first half of 2019, 131 were women. That’s up from almost 19% female CEO replacements in the first half of 2018.Those in positions of power who create employment and teams tend to hire people who are similar to them.Challenger, Gray & Christmas tracks CEO changes from U.S.-based companies that are at least two years old and have a minimum of 10 employees. In many cases, replacement data is not available when a CEO departure is announced. “Gender diversity, along with other visible and unseen diversity, is crucial to creating an environment that finds and develops the best talent for the role, ” said Andrew Challenger, vice president of Challenger, Gray & Christmas. .



The U.S., for instance, is the only country in the developed world that does not provide guaranteed paid maternity leave.More male CEOs are still replacing outgoing CEOs; they represent 78% of CEO replacements, and women are still vastly under-represented in the C-suite overall. “Those in positions of power who make employment decisions and create teams tend to hire people who are similar to them, ” Challenger added. “It’s an inherent bias. When companies make it a point to promote a diverse slate of candidates and try to sidestep this bias, they cast a wide net to find the best talent.” (Seniority does matter: Women are still paid 83 cents on the dollar compared to men.)So what’s behind the increase in women CEO replacements over the last decade? The government/nonprofit sector has named the most women CEOs in the first half of this year with 53 or 44% of all incoming CEOs in that industry. That sector, however, pays CEOs significantly less than the corporate sector. .

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