Are Female CEOs on the Rise - or Decline - in Rhode Island?
Wednesday, November 13, 2013
There are a number of women in Rhode Island who are leading businesses owners, Presidents, and CEOs, in fields ranging from healthcare, to education, to business. However, with the recent retirements of two of the most prominent ones, are female CEOs in Rhode Island an endangered species -- or emerging force?
See Slideshow of Women Leading in Rhode Island HERE
GoLocal's recent list of the most rich and influential Rhode Islanders contained several women, including departing CEOs Connie Howes (Women and Infants) and Merrill Sherman (BankRI). While a core group of women business and education leaders remains strong, the question persists as to whether women will continue to rise the ranks into high profile roles in Rhode Island.
"As for the notion as to whether there will be more gender parity ten years from now, I thought ten years ago we'd see more advancement of women in the top ranks than we see now," said Cheryl Zimmerman, CEO of the Warwick-based FarSounder, which makes 3D underwater sonar systems, noting that she knew of one marine CEO magazine that hasn't once yet had a female on its cover. Zimmerman added, however, that gender didn't play a factor in her work. "I'm focused on the task at hand, and making the business successful."
GET THE LATEST BREAKING NEWS HERE -- SIGN UP FOR GOLOCAL FREE DAILY EBLASTRegarding the future -- and growth -- of women leading in Rhode Island, Rhode Island College President Dr. Nancy Carriuolo told GoLocal she believes there exists a strong foundation in the state for the emergence of more women in top positions.
"We certainly have everything needed to shrink the gender divide. Rhode Island has a great many women – of all ages -- who are leaders or potential leaders. We also have strong, thoughtful role models: in political leadership, the late Susan Farmer, Teresa Paiva-Weed, Lila Sapinsley, and Liz Roberts come immediately to mind. We also have business leaders such as Cheryl Snead at Bannister Industries and Cheryl Merchant at Hope Global. My own role model in education was the late Eleanor McMahan, who was academic VP at RIC as well as the first RI Commissioner of Higher Education. Of course, I have watched with admiration the successes of the chancellor at Salve Regina University in working with the president to develop their campus. Women watch and learn from such leaders."
Data Shows Numbers, Attitudes Towards Female Leadership
Recent data however indicates that nationally, numbers at the top for women CEOS are still significantly low compared to men -- and a poll conducted this week by Gallup showed that Americans, if given the preference, would still prefer a male boss to a female.
According to the latest Fortune 1000 list for 2013, women currently hold only 4.2 percent of Fortune 500 CEO positions with 21, and 4.5 percent of Fortune 1000 companies at 24.
And the Gallup poll released earlier this week showed that if Americans were taking a new job and had their choice of a boss, they would prefer a male boss over a female boss by 35% to 23%, although the majority -- four in 10 would -- have no preference.
"People who are confident and aggressive decision makers are called leaders – if male – but sometimes called less flattering names if female," said Dr. Carriuolo. "The general populace still tends to use soft terms such as sweet or gentle when thinking of women in positive ways."
"I recall a study of the physical appearance of US presidents some years ago. I do not remember the common physical traits among the presidents. I do recall I had none of them. Many of us are simply not a commanding presence when we “stride” into a room. We need to use our words, thoughts, and actions to impress."
Sally Lapides, who started Residential Properties at the age of 27 after starting out in the real estate business right out of school, spoke to the struggle she and her business partner Liz Chase had in opening the company.
"We were terribly discriminated against," said Lapides. "We needed $25K to start the business. This was 32 years ago -- it was a case of male-dominated and owned multi-generational firms. Here were two women who wanted to shake up the real estate business -- we both took second mortgages on our homes, and opened the doors."
Lapides helped grow Residential Properties to a staff of nearly 200, with 160 full time agents.
"I think we as women have to be twice as smart to gain the same recognition, work twice as hard -- we juggle many more jobs in the background than just where we go to work," said Lapides. "it was important to me to retain my name -- I thought it would help me in business. That never occurs to a man!"
"I hope that we have more women in our future in politics, in companies, because they're the role models for our children," said Lapides. She also added "rich and influential" wasn't necessarily the benchmark of success for women. "I think that many women choose fulfilling careers that don't make you a millionaire, or billionaire -- and that's not respected in the same way, and it really should be. "
Breaking Barriers, Rising to the Top
Deborah Perry, President and CEO of the YWCA Rhode Island, talked to GoLocal about the organization's work of helping women in the state at all levels -- and how she thought the stage is set for greater female advancement.
"The challenges are complex –discrimination, shouldering a disproportionate share of work at home, having to choose between family life and career, bias and stereotypes…the list goes on," said Perry.
"Since our founding days the YWCA has advocated for ways to alleviate unique challenges faced by women in the workforce," she continued. "For example, the YWCA was the first to pioneer employment bureaus and childcare centers for women. We also led the push for the eight-hour workday, the elimination of child labor, and creation of a minimum wage. And we continue to advocate for flexible work schedules, accessible childcare, and equal pay with the goal of making work and career advancement a possibility for all women."
Perry believed the future was bright for the female workforces in the state. "Rhode Island will definitely see more women leaders. More and more women are engaged in higher education and are preparing to enter leadership roles in the workforce," she said.
"According to Academia and Education women represent 51% of the nations PhDs, 51% of business school applicants, 67% of college graduates, and more than 70% of 2012 valedictorians in the US. Nationally, well over 50% percent of US college undergraduates are women, with some campuses at 70 percent," said Perry. "This coupled with a workforce that values equality and overtly challenges sexist and racist stereotypes will bode well for the future. We’ll see more women leaders as a result of societal changes, revised polices and laws, increased numbers of women taking advantage of educational opportunities, and women demanding a seat at the table by challenging the status quo."
Dr. Carriuolo offered her thoughts on the future of women in CEO -- and leadership roles -- in Rhode Island.
"The real question is whether or not Rhode Island will encourage and support women in the pipeline. I tip my hat in this regard to Marcia Cone at the Women’s Fund for encouraging an increase in the number of women leaders in public life. I also tip my hat to Governor Chafee: 34 percent of his appointments have been women – a significant increase from previous administrations – according to a report released by the Women’s Fund. Lastly, for the first time in my career, I am finally reporting to a female board chair, Eva Marie Mancuso, and I am enjoying her understanding of, and support for, my challenges. The gender divide can diminish as long as we have people supporting women leaders as they develop in their careers. I am grateful for the people who have supported me and wish the same for every talented, hard-working woman leader.
Related Slideshow: Women Leading in Rhode Island
Who are some of Rhode Island's high-level female bosses? GoLocal takes a look at some of the leading women in the state in their respective industries, in the private and nonprofit sector.
