An interesting post entitled “Più donne nei CDA” on our special event “Ready-for-Board Women: diamo voce alle donne”, that took place on April 26th.
If you want to read the post, click here.
Join us Monday, April 26 for PWA’s first “Ready-for-board Women” event of 2010, hosted and co-sponsored by Università Bocconi.
At our November event, we presented the result of our project: our list of 72 women with the profiles and competencies necessary to contribute effectively as board members. Our guest panel of male decision-makers then shared their views on why so few women sit on Italian boards of directors.
This time we’re turning the floor over to the women: come hear from several of these 72 women who are joining us to discuss their experiences and what strategies are required to effect change
Participation is free, registration is required (register here). Men are welcome at this event.
Monday 26 April 5.30-7.30 p.m.
Location: Aula Magna, Università Bocconi Via Gobbi 5, Milan
The event will be held in Italian.
To download the program, please go to www.sdabocconi.it/ready_for_board_women; to register, click here
Roger Abravanel wrote an interesting comment on how the lack of women in Italian boards will negatively impact their performance.
The article was published on Il Corriere della Sera last saturday and is posted on his blog Meritocrazia. Abravanel’s position on Women on Boards is perfectly in line with the goals and spirit that drove our Ready-for-board Women initiative: we are not asking to appoint more women because of equality, but because of merit.
If you wish to read the article, please click here.
What is the situation of women in the 21st century? The International Herald tribune is trying to answer to this question with a series of articles covering different areas of the world and different positions within companies.
“Getting Women Into Boardrooms, by Law” examines the situation of Norway a few years after the introduction of quotas.
“Female Bankers in India Earn Chances to Rule” presents the unusual situation of Indian Women highly represented in top positions among bankers.
“Where Are the Women on Wall Street?” on the other hand discusses about the difficulty of the top women in Wall Street in getting back to top positions now that the economy is recovering.
“In Germany, a Tradition Falls, and Women Rise” presents the evolving situation of Germany, where more schools are introducing afternoon classes and more women are getting back to work after maternity leave.
Why are there so few women sitting on boards of directors in Italy? A SDA Bocconi study states that only 4% of the positions in publicly held companies are held by women – ridiculously low when research from all over the globe points to a strong positive correlation between a firm’s economic success and the percentage of women in decision-making positions. Too often the answer given is that there are not enough women qualified for these positions.
This historical excuse is not true. During the preparations leading up to PWA’s May 2008 “Women on Boards” event, the “Ready-for-Board Women” Project was born to show concrete proof of this falsehood. It was officially presented on November 18 by PWA, representing what is only the first edition of the ongoing project. As PWA President Monica Pesce stated – “plenty of qualified women are out there, the problem is to recognize and locate them. To introduce them to the decision makers. And the first step has now been made with the publication of this dossier listing women with qualifications and experience necessary, some of them in fact already sitting on boards – in business, institutions and academia.”
Together with the support of SDA Bocconi’s Osservatorio sul Diversity Management, D’Antona & Partners, and four leading executive search companies (Eric Salmon & Partners, Heidrick & Struggles, Key2People, and Korn Ferry International), PWA delivered concrete proof in their “Ready-for-Board Women” Project, a list of 72 women in Italy with the experience, skills and qualifications necessary to serve on boards of directors.
A panel of speakers was presented by Assolombarda president Alberto Meomartini who echoed Nobel prize winner Elias Canetti’s fundamental question: can a society ignore roughly half of its human resources? Agreed that it cannot, then why is it occurring? The answer is that Italian society is stagnant, evolving at a painfully glacial pace, or to paraphrase the film title: “No country for women”. But fortunately things are changing.
The panel was comprised of Giampio Bracchi, Presidente of AIFI; Carmine Di Noia, Vice Direttore Generale Assonime; Marcello Messori, Presidente of Assogestioni, and Giovanni Sabatini, Direttore Generale of ABI and was moderated by journalist Debora Rosciani of Radio24.
The members of the panel acknowledged the fact that the women who serve on boards of directors in Italy are few. But is it a matter of qualification or rather a cultural legacy (Italian or not) that penalizes the female gender when it comes to assigning the major responsibilities in large firms? The latter in fact seems the case.
Is it the case, then, to lobby for the “quote rosa” in order to resolve the situation with federal laws? Is that the way to close this particular gender gap? Perhaps, was the consensus, the starting point of view should be to remove the obstacles that impede equal rights, which are prescribed by no less than the Constitution. Psychological, social, cultural obstacles are all present. And in fact there arose one conclusive fact from the debate: the organization of the workplace at all levels is principally masculine, made by and for men, a power dynamic that leaves little space for women, especially in Italy. So what should be the objective? Equality? Equality with whom, asked a female member of the audience, equality with men? Not only that, but equality with other women with similar experience and ability to excel, even at the highest levels.
PWA presents “Ready for Board Women”
SPECIAL EVENT – ADVANCE REGISTRATION REQUIRED
Why are there so few women serving on boards of directors in Italy? The usual answer is that there are not enough qualified candidates. Not anymore. PWA presents “Ready for Board Women”, a compilation of women with the necessary experience and competencies.
Following the presentation of the RFBW project, a panel of guest speakers will discuss overcoming obstacles and next steps.
Our panel of speakers:
* to be confirmed
Debora Rosciani, journalist of Radio24 will moderate
Assolombarda
Via Pantano 9 (MM Missori)
Aperitivo 7-8 pm
Presentation/Panel speakers 8-9:30 pm
We will be welcoming men to this special event
Entrance free of charge
Event will be in Italian.
Please register in the event calendar section of www.EuropeanPWN.net
For more information email speakers@pwa-milan.org
Gold sponsors Intesa Sanpaolo and Unicredit spa
Venue sponsor Assolombarda
In collaboration with Eric Salmon & Partners, Heidrick & Struggles, Key2People, Korn Ferry International and SDA Bocconi
Con il patroncinio del Ministero per le Pari Opportunità
Today Il Corriere della Sera published an interesting article on the impact of the current economic downturn on women. Our initiative “Ready-for-board Women” is presented in the same page.
To read both articles, click here
Just two samples of our 2009 key project “Ready-for-board Women” in the media.
“Donne Leader: Nuove iniziative per il 2010, cambierà qualcosa?” in Blog Meritocrazia on Il Corriere (click here to read the article)
“Donne, autocandidatevi per entrare nei board!” in Affaritaliani (click here to read the article)
Alessandra serves as a Managing Director for Tamburi Investment Partners, an investment merchant bank focusing on mid sized Italian companies listed on the Italian Stock Market.
Prior to the 2007 merge into Tamburi Investment Partners, she co-founded and served as Managing Director of Tamburi & Associati, a company specializing in consulting for M&A and corporate finance transactions. Prior to that, Alessandra worked for Montagu Euromobiliare SpA as head of Mergers and Acquisitions. Alessandra currently serves on the boards of Management & Capitali SpA and SINV Holding SpA and has had numerous articles published on finance.
1. How long have you been a member of a board of directors (or how long were you a member), on how many boards do you sit and what are typical board member duties (responsibilities, roles, activities)?
I have been a member of various boards of directors for nearly 20 years. Today I sit on four boards of directors – of which two of listed public companies – and in three cases I am an executive director. Being a BoD member is nothing other than playing a directive or top management role – something that obviously implies a number of responsibilities.
2. What drove you and guided you towards a top manager and a board member position? Was it a planned and rational decision, was it a series of casual decisions, something else?
I in no way “planned” to become a “top manager”, nor do I recognise myself in that (somewhat empty) definition. Membership of a BoD is the result of a job done with huge commitment, alongside people who esteem me. In one of the BoDs I am an independent director, chosen as such by an entrepreneur who wanted to set up a “sounding board” for discussion and exchange of opinions, with various professional skills represented, so as to give the company the extra input enabling it to take decisions as impartial as possible in relation to the desires of the family controlling it.
3. Career planning – what 3 pieces of advice would you give a woman in her 20’s whose goal was a board position within 15 years? What is absolutely vital to include in your career path with that objective (skills, experience, proficiencies, do’s and don’ts)
There is no advice to give to anyone wanting to become a board member because, as such, being a board member means absolutely nothing. Pure careerism, together with basking in the bliss of being a board member, will never be part of my DNA. The pieces of advice to give to those who want to do their job well – and if they do so they will assert themselves – are (i) huge commitment, even regardless of any short-term appreciation that may be received from the organisation where one works; (ii) serious, constant study, in parallel with work, to go into each matter in depth, even beyond what is required at any given time by one’s superiors and, above all regardless of the latter’s competences, which must at least be equalled in terms of both quality and quantity; (iii) willpower, which must constantly enable people to be determined in achieving their personal short- and medium-term professional objectives, and (iv) a sense of humaneness, of correctness and equity to avoid forming part of cynical groups, more interested in making career progress than in true, continuous and outright quality – on a 360-degree basis – in their work.
4. In your opinion, what would be the most valuable initiatives (by the State, the corporations and individuals) to support a higher number of women on boards?
None. A person has to merit BoD membership regardless of gender – and only people lacking adequate human and professional qualities can believe that mechanisms such as “pink quotas” or similar things are beneficial for women as a category. It is also evident, however, that if certain organisations want to measure themselves with the sensitivity and methodological approaches typical of the female gender, also by appointing women to BoDs, they demonstrate open-mindedness. The State, companies and individuals must be able to make BoD appointments in total freedom.
If you have missed the first part, check the post
First of all, investigate the company: what do the financial results look like, what is their strategic position in the current environment and do they have an appealing strategy for the next 5 years? Use your informal network to get the story behind the numbers; what do people not tell you about this company? Who are the other board members and what do you know about their reputation? Would they be interesting additions to your network and how could you be of service to them?
Be prepared to say no if the outcome of your first investigation is negative. Especially with a first board position be careful to say ‘yes’ too quickly.
Secondly, match your skills and experience with what is required on the board. You don’t have to have had ample experience in the same line of business but you need to be able to relate to the company and its activities. For instance, if you don’t like computers and ‘geeks’, don’t consider accepting a board position on a company that works in IT or is very IT-driven.
Be realistic about what you can bring to the table and develop at least three key points to convince others that you are the best candidate. This could be your experience in working in Asia, if the company wants to expand into that region; or your expertise on joint venture contracts, if the company’s preferred way of working is through joint ventures. So find your strong points and added value and be able to communicate them. Do not focus on your weak points. Women have a tendency to first think which part of the required skills we do not fulfil, before making the leap. Feel confident that the fact that you are being asked for this position already indicates that your image is the right one.
Thirdly, decide if this particular position will help you reach your ambition for the next 5 – 10 years. If you really want to be in a different area or sector than this company’s offer, think again and try to build a business case for yourself why this choice would be the right one now. Assess what it might ‘cost’ you. If for instance it would mean moving to a different city or country or working extra long hours, make sure you know beforehand what the sacrifices will be and if you and your family are prepared to make them.
Difficult question because, of course, not all women are the same, nor are all men, so I can only speak from my personal experiences. Once I put the not-so-female-friendly conduct of one of the managers on the agenda; I am sure that the topic would not have been discussed if it weren’t for me. From the many stories women on boards have told me and my own experience I do believe that women add an extra dimension to the board. We are often not afraid to ask questions if we do not understand an issue; we ask questions in an open and non-judgmental manner, so that the answers will be the same, open and straightforward. Men observe a difference too; they have told me many times that there is less grandstanding when there is a woman on the board. I have experienced that women bring a different viewpoint and create a different atmosphere in the board – both factors are very important for decision-making processes of the highest quality.
Absolutely vital is to make the right choices for jobs from the start of your career. If you want to become a generalist, so a general manager or CEO, line management experience and often expatriate experience are crucial in most large companies, so you will have to plan for them. Another important choice is the choice of your partner; I am not kidding: the most important choice women will make in their 20’s has to do with this. Look behind the rosy clouds to see if your partner will become a partner in your career too, or if you would go for dual careers, or if you are expected to fulfil a more traditional role in the relationship. A good indicator is to observe the rules in the family your partner comes from; that will tell you a lot. After all, if you want to be one of the women who have it all (a loving partner, children and a career), tough decisions need to be made at the kitchen table. Third piece of advice is about education; go for the best education you can possibly get and continue to learn throughout your whole career. Learning new skills and expanding your horizons is key to maintaining an open mind and positive energy to contribute to the cause you have chosen for your life. Last, but not least, get mentors who will guide you and inspire you along the way. You never can have too many mentors really, so try to find them from different backgrounds, organisations and phases in life. A women’s network, like European Professional Women’s Network (www.europeanpwn.net) is ideal for finding some of them, so join and become active. Mentors have always enriched my life, both professionally and personally, and have given me crucial pieces of advice in every stage of my career. I could not have done it without them.
