What he really meant was...

Many gasps were uttered when Josef Ackermann, chief executive of Deutsche Bank Germany, made the following remark regarding his company's annual board report: "I hope it will be prettier and more colorful one day".  Jacki Zehner, former partner at Goldman Sachs, offered Mr. Ackermann some advice on her blog, Purse Pundit:

Mr. Ackermann here are a few words of wisdom for what to say next time. "We are well versed in the incredible amount of evidence that greater board diversity leads to better decision making and are trying to get over this white male bias that clearly is reflected in our current lack of diversity. We say we cannot find talented women to fill these board seats but really, we are not trying very hard and this will change. We recognize that women are half the population, are clearly as smart and capable as men, and although there are fewer women with CEO experience that is often a prerequisite for board placement, we will find the talent BECAUSE we know that greater board diversity will lead to better outcomes. We did not do well in the financial crisis as you know, and our hope is that a more robust board going forward will help us weather the next storm more soundly."

To read Jacki's full post (which includes facts on women on boards), click here.


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