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Lilly Releases Report on Corporate Responsibility EffortsPRNewswire December 5, 2013
Eli Lilly and Company (NYSE: LLY) has released its 2012-13 Corporate Responsibility Report.
Among the report's highlights:
- Committed to provide $30 million to fight the rising burden of non-communicable diseases (NCDs) in developing nations from 2012-2016 through the Lilly NCD Partnership
- Pledged an additional $30 million to fund the Lilly MDR-TB Partnership through 2016, focusing on healthcare provider training and improving the supply of and access to safe, effective, and high-quality medications
- Helped over 300,000 people gain access to our medicines through the U.S. patient-assistance program, Lilly TruAssist, an increase of 18 percent over 2011
- Since 2011, nearly 600 employees have devoted nearly 24,000 hours to Connecting Hearts Abroad, a program that allows employees to volunteer on company time in countries where people lack basic resources or access to quality health care
- Donated more than $12 million to the United Way in 2012, a record high for Lilly
- Added more than 360 new clinical trial sites with minority patient populations of more than 25 percent
- Received a perfect score of 100 on the Human Rights Campaign's "Best Places to Work: Corporate Index" in 2012
- Recognized by DiversityInc as one of the "Top 50 Companies for Diversity, " and as a model of workplace flexibility for employees
- Selected as a 2020 Women on Boards Winning Company for commitment to diversity on the board of directors
Study: Women on corporate boards help companies strike better dealsAl Jazeera America December 3, 2013
When it comes to building an empire, corporations would be wise to appoint more women to their boards of directors. That’s because female directors appear to bring down the costs of acquiring other companies, according to new research from the University of British Columbia, and they also tend to make fewer overall acquisition bids than companies that don’t have women on their boards. That means women directors are avoiding costly mistakes that end up hurting shareholders, the researchers say.
In an analysis of all of the mergers and acquisitions activities of S&P 1500 companies between 1997 and 2009, each female director present on a company’s board meant it spent 15.4 percent less on acquisition bid premiums — that’s however much a company pays for an acquisition target over and above the value of all that target’s stock shares. And what’s more, each woman director on a board was associated with 7.6 percent fewer acquisition bids made altogether, a signal that the women directors made shrewder and less risky business decisions, according to study co-author Kai Li, a professor at the UBC’s Sauder School of Business. “To make a good deal for your shareholder is to buy low,” Li told Al Jazeera in a telephone interview. “And our study shows that women directors are associated with buying low.”
Women hold just 11 percent of board seats in D.C. areaThe Washington Post November 22, 2013
The good news: Women are gaining seats in local boardrooms. The bad: The numbers are still extremely low. The nonprofit organization Women in Technology (WIT) recently released its 2013 report on female board directors in Maryland, Virginia and Washington, D.C. Conducted by American University’s Kogod School of Business, the report finds a slight increase in the percentage of board seats held by women in the region, reaching 11 percent in 2013, up from 10 percent in 2012.
While the slight uptick is an improvement, 11 percent is strikingly low when compared with the percent of women in managerial or professional roles (51.5 percent, according to a Catalyst report that cites 2012 data from the Bureau of Labor Statistics) and in the overall labor force (46.9 percent). The WIT report, which examined the boards of the 208 D.C.-region companies that are publicly traded on the Nasdaq or the New York Stock Exchange, found that one-third of these companies do not have a single woman on their board.
Women on Boards Improve a Bank's PerformanceAmerican Banker November 20, 2013
Evidence is piling up that companies with women on their boards outperform those without. The Credit Suisse Research Institute, McKinsey & Company and Catalyst have all released recent studies indicating return on sales, return on equity and return on invested capital are higher when gender diversity exists on the board of directors and/or in senior management. Women bring a different perspective into the boardroom. In the U.S., women are responsible for 80% of decisions related to consumer purchases, so they are often considered more closely aligned with the customer's view. Therefore, their perspective often drives development of product and services. It's also believed that women bring a more balanced approach in the boardroom in matters of risk, governance and corporate long-term objectives.
A national initiative called 2020 Women on Boards is actively pursuing the goal of increasing to 20% the number of women on boards by 2020. I attended their second annual National Conversation on Board Diversity last week in Los Angeles. The event was held in 20 cities across the U.S., Canada and Europe on Tuesday, November 12, 2013 to raise awareness and unite companies in a call for action.
Top 10 Reasons Diversity Is Good For The BoardroomForbes November 18, 2013
I do quite a bit of work on matters of board composition, selection and succession, and what I can tell you is this; board diversity is simply smart business. You’ll never hear me recommend diversity solely for the sake of checking a box, but when diversity in the boardroom offers so many benefits to the CEO (and to the entire organization) it’s nothing short of irresponsible for chief executives not to place their board composition under the microscope. In today’s column I’ll share with you the top 10 reasons why diversity is good for the boardroom.
I was having an interesting conversation the other day with my colleague Patricia Lenkov, who chairs our executive search practice at N2growth. She recently spoke at the Global Women’s Leadership Summit and just came off of a 2020 Women on Boards event in New York last week that examined gender diversity and the bottom line. Patricia’s passion is board work, and like me, she has seen just about everything when it comes to the variety of agendas, motivations, and expectations when it comes to building a board – they may often be well intentioned, but they’re not all healthy. We came to the conclusion that many CEOs and nominating committees simply focus on the wrong things for the wrong reasons when it comes to board composition – specifically when it comes to the topic of diversity.
Developments Regarding Gender Diversity on Public BoardsThe Harvard Law School Forum on Corporate Governance and Financial Regulation November 12, 2013
While the number of women directors on U.S. public company boards has not risen dramatically since 2012, the issue of gender diversity on boards continued to gain momentum and global prominence over the last 12 months. Since we last discussed this issue, new legislative and non-governmental initiatives around the world have resulted in growing numbers of women directors and greater shareholder focus on board diversity and related disclosures. This issue is likely to become increasingly significant in 2014 and beyond, both in the United States and abroad.
Earlier this month, the European Commission moved a step closer to imposing a form of gender quota on major public companies in the European Union. Two committees of the European Parliament voted in favor of a proposal by the European Commission to require certain public companies to increase the representation of women on their boards. The proposed law applies only to large public companies, with no exceptions even for companies in which women compose less than 10 percent of the workforce, and, if adopted, provides for obligatory sanctions for failure to follow the proposed requirements.
Women in Charge, We Hear You! Board Diversity in Hot SeatVitamin W November 11, 2013
America needs more women on boards. That’s the idea behind Tuesday’s National Conversation on Gender Diversity. It’s a daylong countrywide discussion that will take place in hotel ballrooms, business clubs, universities and on Twitter.
Twitter is actually part of the problem. That company just got into boiling hot water preceding its IPO because, despite having an overwhelming female user base, the company had no women on its board. Not one MBA or executive woman in America was seen as competent to serve. 2020 Women On Boards has organized this conversation—which is taking place in almost 20 cities and even in Sweden, Italy and Canada. Some 1,400 people are expected to attend, with more tweeting along. If you live in Atlanta, Louisville, Ft. Lauderdale, and other cities, you might still be able to get tickets. Another sign bodes well for the campaign: many local branches of organizations and businesses have gotten behind the National Conversation, including AAUW and NAWBO boards, KMPG, and Bank of America.
Women's Advancement -- Male Allies PleaseThe Huffington Post November 7, 2013
When Twitter begins trading publicly this month, it will do so with a board composed entirely of white men. Thirty or 40 years ago, this may not have been strange; I daresay that few would have questioned this decision at all. But today, with women's substantial use of social media, I am truly shocked that a major corporation would allow such a gross oversight.
Women have expressed outrage about this lack of representation by one of the leading technology companies of our time, and they should. But my question is, where are the men in this debate? It seems to me that all sound businesspeople -- men or women -- should question why such an influential company would not seek strategic input from one of the largest audiences that it serves.
Could board diversity actually be decreasing?Corporate Secretary November 6, 2013
Making a business case for board diversity, which 2020 Women on Boards is hosting panels to discuss, may prove more effective than pushing for quotas
According to executive search consulting firm Spencer Stuart, a recent survey of corporate secretaries, general counsel and chief governance officers placed minority and female candidates atop their wish lists for new directors; 56 percent of boards sought minority candidates and 54 percent sought women. With so many boards apparently looking for diverse candidates, why does it seem difficult to increase the number of women and minorities on boards? In fact, according to another study from talent management solutions firm Korn Ferry International, diversity on boards may actually be decreasing. In a statement announcing the results of a study of the boards of the largest US companies, Korn Ferry reports, ‘Ninety percent of new directors are white compared with 77 percent of this group in 2011. Moreover, diversity has dropped in virtually every category year-over-year: The percentage of new women directors dropped from 27 to 23; African-Americans from 11 percent to 6 percent; Asians from 7 percent to 1 percent; and Hispanics from 4 percent to 3 percent. Only international diversity has increased, with new, non-American directors representing 20 percent of recruits, up from 16 percent in 2011.’
Corporate Governance Update: Developments Regarding Gender Diversity on Public BoardsNew York Law Journal October 31, 2013
While the number of women directors on U.S. public company boards has not risen dramatically since 2012, the issue of gender diversity on boards continued to gain momentum and global prominence over the last 12 months. Since we last discussed this issue,1 new legislative and non-governmental initiatives around the world have resulted in growing numbers of women directors and greater shareholder focus on board diversity and related disclosures. This issue is likely to become increasingly significant in 2014 and beyond, both in the United States and abroad.
ManpowerGroup: Attracting More Women Only Matters If You Want to WinThe Sacramento Bee October 30, 2013
NEW YORK, Oct. 30, 2013 /PRNewswire/ -- ManpowerGroup (NYSE: MAN), the world leader in innovative workforce solutions and World Economic Forum (WEF) strategic partner, today advised that closing gender gaps is not about hitting quota numbers; rather, it's about making companies stronger. This is critical to ensure the continuing talent sustainability of the world's workforce and to drive competitive advantage for businesses and economies.
Mara Swan, ManpowerGroup Executive Vice President, Global Strategy and Talent, led a discussion at the launch of the WEF's Global Gender Gap Report 2013 in New York City on how companies and countries can capitalize upon their female talent pool, and how multinational and national companies can collaborate with governments on closing the economic gender gap. While the eighth annual edition of the Report found that the world's gender gaps narrowed slightly in 2013, in both developed and emerging economies alike, women's presence in leadership positions is limited relative to the numbers of women in tertiary education and the workforce overall. ManpowerGroup's 2013 Talent Shortage Survey showed that more than half of employers globally say talent shortages are impacting their ability to serve clients, but just two percent are actively looking to add women — who make up half of the global talent pool — to their workforces.
Our View: Why Erie boards need womenGoErie.com October 20, 2013
At the annual Athena Awards program on Tuesday, the audience at the Ambassador Center received some pragmatic lessons on the need for female leaders to step up to help each other and help the community. The messages from award winners and the keynote speaker, Christy Uffelman, dovetail nicely with the theme of "leaning into leadership" that we've explored in a series that began in May. We conclude our series today with stories on women who serve on nonprofit boards in Erie and women who work as chefs. The series has highlighted the many ways in which local women are breaking barriers -- starting businesses, moving up the ranks in law enforcement, creating music and operating farms, to name a few examples. Women interviewed for the series are eager to share their experiences and expertise with other women.
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