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women@work | 2010-06-01 Top 50 Companies for Female Executives  As the economy forces major shifts in America’s corporations, the National Association for Female Executives (NAFE) urges companies to turn to female leadership to find terra firma—and strongly cautions against allowing women’s advancement to lose ground. Smart companies already are striving for gender balance, and today NAFE releases the NAFE Top 50 Companies for Executive Women, spotlighting corporations whose commendable practices and employment records demonstrate that women matter to the bottom line.
In determining its Top Companies, NAFE places specific emphasis on the number of women running the business-of-the-business, jobs with profit-and-loss responsibility. According to a Columbia University/University of Maryland study, “greater female representation in senior management positions leads to… better firm quality and performance;” and a McKinsey study, “Women Matter,” reports that companies with the most women senior executives and board members perform best. “NAFE applauds the strides taken by our Top Companies, and urges further action across the board. It’s essential that companies realize that workplace equality is more than a moral obligation—it’s a fiscal one,” says Betty Spence, NAFE president. “Currently, women hold less than ten percent of the jobs responsible for profit-and-loss at our largest corporations, with an alarming 19 percent decline in recent years. Those companies with women running operations and making major decisions will have a significant competitive advantage.” Companies with proven track records for women include Aetna, Kraft, the New York Times Company, and AstraZeneca, where women run half or more of the companies’ major divisions. At the next level down, women fill 40+ percent of corporate officer positions with P&L responsibility at four companies: Bristol-Myers Squibb, JP Morgan Chase, Liz Claiborne, and Merck. NAFE also reports that women are succeeding in industries pegged as boy’s clubs: at manufacturer Dupont, although women are only 26 percent of employees, they are 24 percent of senior managers; at Xerox, women are 31 percent of employees and fill 31 percent of senior management positions; and at IBM, the percentage of global women managers increased 564 percent since 1999. In particular, the selected companies:
NAFE will honor the Top Companies at a luncheon at Cipriani 42nd Street in New York City on March 18. That morning, the NAFE Roundtable of senior women executives from the Top Companies will meet to discuss issues facing women executives, including the negative momentum of the economy and their role in the turnaround. The 2009 NAFE Top Companies for Executive Women are (in alphabetical order): The Top 10 * Aetna – Hartford, Conn. * AstraZeneca – Wilmington, Del. * Avon Products – New York, N.Y. * General Mills – Minneapolis, Minn. * IBM – Austin, Texas * Johnson and Johnson – New Brunswick, N.J. * Liz Claiborne – North Bergen, N.J. * Marriott International – Bethesda, Md. * Principal Financial Group – Des Moines, Iowa * Procter & Gamble – Cincinnati, Ohio THE TOP COMPANIES Abbott – Abbott Park, Ill. Allstate Insurance – Northbrook, Ill. American Express – Suwanee, Ga. Bank of America – Charlotte, N.C. Bristol-Myers Squibb – Plainsboro, N.J. Cisco Systems – Honolulu, Hawaii Colgate-Palmolive – New York, N.Y. Dow Chemical – Midland, Mich. DuPont – Wilmington, Del. Eli Lilly and Company – Indianapolis, Ind. First Horizon National – Memphis, Tenn. Ford Motor Company – Dearborn, Mich. Hewlett-Packard – Palo Alto, Calif. HSBC - North America – Prospect Heights, Ill. Intel – Santa Clara, Calif. JPMorgan Chase – New York, N.Y. Kellogg – Battle Creek, Mich. Kraft Foods – Northfield, Ill. Macy's – New York, N.Y. McGraw-Hill – New York, N.Y. Merck & Co. – Whitehouse Station, N.J. MetLife – New York, N.Y. New York Life Insurance – New York, N.Y. New York Times Company – New York, N.Y. Northern Trust – Chicago, Ill. Office Depot – Delray Beach, Fla. Pearson – New York, N.Y. Pfizer – New York, N.Y. Phoenix Companies – Hartford, Conn. PNC Financial Services Group – Pittsburgh, Pa. Prudential Financial – Newark, N.J. Sallie Mae – Reston, Va. Schering-Plough – Kenilworth, N.J. State Farm Mutual – Bloomington, Ill. Texas Instruments – Dallas, Texas Verizon Communications – New York, N.Y. Wal-Mart Stores – Bentonville, Ark. WellPoint – Indianapolis, Ind. Wyeth – Madison, N.J. Xerox – Stamford, Conn. THE TOP NON-PROFITS NAFE also honors five Top Nonprofits for Women Executives, all in healthcare, where women fill over 80 percent of employee ranks and more leadership roles than at for-profits. Baptist Health South Florida – Miami, Fla. Bon Secours Richmond Health System – Richmond, Va. Mid-Michigan Health – Midland, Mich. TriHealth – Cincinnati, Ohio VCU Health System – Richmond, Va.
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