Women ran just one in 20 top US companies last year
NEW YORK - Reuters
The amount of female CEOs increased by one since 2016, marking the highest number since the board began counting 17 years ago.
“Women do not advance through the ranks, especially at the top,” Tonello told the Thomson Reuters Foundation.
The number of female CEOs has actually dropped in recent months to 24, said Anna Beninger, senior director of research and corporate engagement partner for Catalyst, which works to promote women in business.
“We are literally moving backwards,” she said.
Barriers range from bias and exclusion in the workplace, to being held to higher standards than men, and overwhelmingly male corporate boards making hiring decisions at the top, she said.
“The deck is very much stacked against women,” Beninger said.
David Cadden, professor of entrepreneurship and strategy emeritus at Quinnipiac University, dismissed such explanations as women dropping out of the workforce to raise families or men being reluctant to mentor young women.
“I think that good old-fashioned sexism has a much more pertinent role,” he said. “We still have to confront the glass ceiling.”
The findings come amid calls by advocates for quotas in company leadership.
California legislators this week signed a law requiring publicly listed companies with headquarters in the state to have at least one woman on their boards of directors by the end of 2019.