Statue of Little Girl Stands up to Wall Street Bull
A statue of a girl standing in front of the Wall Street bull in defiance was installed this morning in honor of International Women’s Day. The statue symbolizes the need for more women on company boards.
According to business insider the statue was installed by State Street Global Advisors, the world’s third-largest asset manager. The money manager said it would vote against boards if a company failed to take steps to increase its number of members who are women. State Street plans to send a letter to 3,500 companies on Tuesday asking the companies to act.
Women represent only one in five board members at S&P 500 companies. And current board directors show very few signs of changing their stance on diversity. Studies show that the desire to keep women’s representation low is bad for business. As PwC notes, “research has shown that Fortune 500 companies with the highest representation of female directors attained significantly higher financial performance, on average, than those with the lowest representation of female directors.” PwC cited a 2011 Catalyst study on the topic.
We need more women in positions of power in this country, especially on Wall Street. Happy International Women’s Day!!!
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