California Gov. Jerry Brown signed a bill into law stipulating that publicly held companies based in the state must have at least one woman on their boards by the end of 2019. Those that don't comply could face financial penalties.
Fortune has released its Most Powerful Women in Business ranking, with Lockheed Martin CEO Marillyn Hewson claiming the top spot. Notable names on the list include Judith McKenna of Walmart, Ann-Marie Campbell of Home Depot and Cathy Engelbert of Deloitte.
J.C. Penney has hired former JOANN Stores CEO Jill Soltau as its new chief executive, replacing Marvin Ellison, who took the CEO reins at Lowe's earlier this year. Soltau's three-decade retail career also includes stints at Kohl's, Sears, Shopko and Carson Pirie Scott.
Some observers have suggested that a "confidence gap" is partly to blame for the lack of gender parity at the highest levels of the business world, with women being less willing to tout their own accomplishments. Research suggests, however, that women may avoid self-promotion because they fear a potential backlash, not because they are actually less confident.
Female employees and founders tend to own less equity in their companies than their male peers do, according to a study by Carta. The study indicates that women have less "actual firepower" to create change in the startup world, said Chloe Sladden, founder of the group #Angels.
A review of 53 case studies revealed that only seven featured female protagonists. The issue is "not just around the case papers but also how they are taught in the classroom," said Lesley Symons, who conducted the analysis and is partnering with the Forté Foundation as she repeats the assessment of case studies.
A survey from the Graduate Management Admission Council shows that US business schools saw a 7% decrease in applications during this year's cycle, including Harvard Business School's biggest year-over-year application decrease in 13 years. US business schools also received 11% fewer international applications than they did last year.
Female employees are more likely than men to handle menial tasks that do not aid their chances of promotion, according to a study by Hive. "My advice is for women to stop doing this 10% extra work if it's not going to help you advance or get a raise," said Elissa Sangster, the Forté Foundation's executive director.
In time of crisis, we summon up our strength. Then, if we are lucky, we are able to call every resource, every forgotten image that can leap to our quickening, every memory that can make us know our power.
Forté Foundation is a consortium of leading multinational corporations,
top business schools in the U.S. and abroad, and the Graduate Management
Admission Council (GMAC). Forté has become a powerful change agent directing
women towards leadership roles in business and enabling corporations to more effectively
reach and retain top female talent. It is the only organization that provides a national
infrastructure for women at all stages of the career continuum to access the information,
scholarship support and networking connections they need to succeed in business careers.
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