Article compares the performance of the current fortune 500 companies with women CEOs to the S&P500 performance and their industry competitors from the start of the calendar year to present. Correlation and causation aside, the trend holds true: women have been ruling the stock market.
Statistically, female CEO-led companies have been ruling the stock market, which may explain why more women are scheduled to take the reigns of Fortune 500 companies than ever before.
This is a change from the grand total of 12 female CEOs of Fortune 500 companies back in July. The number was a drop from the 15 in 2010, but a significant improvement over the single female CEO that made the list in 1996.
USA Today reports in the last few months alone, three other new female CEOs have emerged: Meg Whitman (pictured above) became Hewlett-Packard CEO in September, Denise Morrison took the CEO post at Campbell Soup in August, and Gracia Martore was named CEO of Gannett earlier this month.
Wednesday, pharmaceutical firm Mylan said Heather Bresch will succeed Robert Coury as CEO. Tuesday, IBM tapped Virginia “Ginni” Rometty to succeed Sam Palmisano, making her the first female CEO in the company’s 100-year history. Both appointments are effective Jan. 1st.
“If no women step down before the end of 2011, there will be 18 women running Fortune 500 companies in 2012. Previously, there haven’t been more than 16 female CEOs at Fortune 500 firms at the same time.”
Most females execs will be quick to claim their gender has little to do with their success as chief officer, but it would be hard to deny the studies that show overwhelmingly positive results for female-led companies. The trend is hard not to notice:
In July, USA Today reported “Fortune 500 companies that had a woman at the helm for all of 2009 were up an average 50%.” And according to Forbes: “as a group they outperformed the overall market–companies dominated by male chief executives–by 28%, on average, and topped their respective industries by 15% [in 2010].”
A 2007 research report by Catalyst Inc showed that among Fortune 500 companies, those with the greatest number of women on their boards performed significantly better financially than companies with fewer female board members.
Shareholders, pay attention: We’ve compared the performance of the current fortune 500 companies with women CEOs to the S&P500 performance and their industry competitors from the start of the calendar year to present. Correlation and causation aside, the trend holds true: women have been ruling the stock market.