Why Are There So Few Female CEOs?

MINNEAPOLIS (WCCO) — When she took over the reins at the best buy on Tuesday, Corie Barry became the 34th woman presently running a Fortune 500 company. which means women currently form up slightly but 7-membered of Fortune 500 CEOs. So, why are there therefore few? good Question.

“There are many reasons that contribute to this,” says Pat Hedberg, a leadership professor at the University of St. Thomas opus school of Business. “People need to see somebody like them succeed and do well in an organization. That’s one reason that matters.”

She says usually times women self-select out of the role thanks to demanding nature.

“Maybe the answer is that we might do a much higher job of developing younger women and women earlier in their careers to aspire to those roles,” Hedberg said.

At a similar time, some things have modified. In 1999, there were two female Fortune 500 CEOs – the heads of Golden West financial and Mattel.

“Organizations have realized that it’s necessary to have women in leadership roles,” Hedberg said.

She says they’re currently more women on corporate boards and in graduate schools. there’s additionally more deliberate mentoring.

“It’s women seeing places they can go, whereas it’s something they didn’t see 30 years agone,” Hedberg said.

About a quarter (26%) of all chief executives in the USA are girls, according to the Bureau of Labor Statistics.

The first was Anna Bissell. when her husband died in 1889, she took over the vacuum company.

The first to go a Fortune 500 company was Katharine Graham of the Washington Post in 1972. the first Fortune 500 transition from female to female CEO was in 2009 when Ursula Burns took over from Anne Mulcahey of Xerox.

Burns was conjointly the first African-American girl to steer a Fortune 500 company. Now, the sole woman of color thereon list is Joey Wat, head of Yum China.

“There are difficult factors on why this is often happening,” Hedberg same. “If we don’t talk about or don’t consider it, then it won’t change.”

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