According Strategy&, PwC’s strategy consulting business, of the world’s 2,500 largest public companies, five newly appointed female CEOs accounted for a three year high. That’s right 2016 was the golden age of women CEO hirings. In 2015, only one woman was able to achieve this status (Andrea Greenberg of MSG Networks).
While reading a recent Strategy-Business article, the argument was made that this is a sign of things slowly changing for women. In addition to the five hires of 2016, Reynolds American announced it will replace current CEO Susan Cameron with Debra Crew in 2017.
Despite these achievements, I am not convinced. Currently in the S&P 500, female CEOs make up 4.6% of its 500 corporations (that’s 23 CEOs). If five women were hired each year to Fortune 500 companies, it would take a decade and a half to get to 25% of the S&P 500. Let’s make one thing clear, one new female CEO hired in 2015 is not good. Five new female CEO’s hired in 2016 is also not good. In my opinion, issues are still prevalent for women in top positions and it will take more than five newly appointed CEOs to change that.