Sunday, May 18, 2014

The facts show it: female CEOs are more likely than men to be fired; The Observer via Guardian, 5/17/14

Edward Helmore, The Observer via Guardian; The facts show it: female CEOs are more likely than men to be fired:
"The report finds that men and women are broadly comparable in every area –except one: "Women are more often outsiders," says co-author Ken Favaro. "So they're more vulnerable. They don't know the organisation. They can't diagnose the problems as quickly and don't understand the culture or how to get it to work for them – and they aren't necessarily given more time to deliver."
While the proportion of women in the CEO class has doubled to nearly 4% in the past five years, a figure that the study's authors believe could rise to 33% by 2040, the sex norms of global corporate leadership remain stubbornly hard to shift.
With a smaller internal leadership pool to choose from, companies hiring female executives from outside are also likely to be less tolerant of shortcomings than they are with executives groomed in-house. And external CEOs are seven times more likely to be dismissed after a short tenure.
"We tend to like those that are most like us," says Favaro. "Sadly, company boards are still mostly men, and they're more inclined to pull the trigger on women if things aren't working out. Women are treated more harshly by men because there are more men in the boardroom." As long as this lasts, he adds, "women will be at a disadvantage"."

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