New York - The heads of Bank of America Corporation, American Electric Power Company, Coca-Cola and 24 more large global companies have pledged to boost the number of women in their top ranks to parity with men by 2030.
Urged by female leaders including Ellen Kullman, former chairperson and chief executive officer of DuPont, and Jewelle Bickford, partner at Evercore Wealth Management, the CEOs joined a programme called Paradigm for Parity that prescribes five steps for advancing women.
It will be a tough climb. Women currently compose 14% of the top five executive positions at each of the S&P 500 companies, and just 20 of the CEO jobs, or 4%. They’re advancing so slowly that parity could take more than a century at current rates, according to a 2015 study by McKinsey & Company and LeanIn.org. McKinsey Global Managing Partner Dominic Barton signed the Paradigm for Parity pledge.