Linda Cook: Another Female Executive Feels the Effect of the Gender Recession
by Caroline Shannon (Dayton, Ohio)
Early last week, Linda Cook, one of just two women on the Royal Dutch Shell board of directors, announced her decision to step down from her position at the company. The reason? Cook, a 29-year veteran of the company, was nixed for consideration as Royal Dutch Shell’s new chief executive officer, a position that is currently held by Jeroen van der Veer. The top spot will instead be filled by Peter Voser, the company’s current chief financial officer.
Cook’s relinquishment means she will be giving up the $1.26 million loyalty bonus she would have received had she stayed on board until 2011. Now, no one is suggesting the making of anti-men propaganda. The company said Ms. Cook left as part of a mutual agreement and will continue to advise the company until her new successor is implemented.
Instead, the real concern is the economic recession and the steadily declining tally — better known as women in the workplace — that is following close behind. But can the two be linked? Marilyn Tam, a global corporate consultant and executive director of the Us Foundation, says while it may be subconscious, the pair show a definite relationship. “In times of crisis people often revert to what they are most familiar with,” Ms. Tam said. “In the case of corporate America that frequently would mean that people gravitate towards people who look and think like themselves. Since the predominant number of top positions are filled by men, this can place women business leaders in a vulnerable position.”
That’s a shame considering studies have shown gender diversity, especially in top positions, throughout major corporations has proven to increase financial success. Those studies have also reported that when companies employ women in those positions, there is a boost in the potential for women to fill those spots in the future. “It is a huge loss for business and the world when we narrow the pool of talent to half the population,” Ms. Tam said of the more recent trend. “Especially, in a time when we need all the skill and wisdom available to guide the world out of the biggest economic downturn experienced by most of the people now living.”
Ms. Tam also referenced research that has shown companies who have women in leadership positions are proven to have more success in all aspects of their business. “The retrenchment of the already small advancement of women in the professional and executive workforce may cause a long term deficit in the supply of capable and visionary talent to help lead us as expeditiously out of the recession as possible,” said Ms. Tam who is also the author of How to Use What You’ve Got to Get What You Want. “Men and women are complementary in their styles of management and operation and we need the combination of both to achieve the highest results.”
But if those results are in fact being ignored then, perhaps, the only thing for women to do is to continue to prove their worth within their individual companies. Ms. Tam gives women these pointers: (1) Establish your own value to the organization, and make sure it is known in a positive and collegial way and (2) network and make partners within and outside the company. “I say keep the faith,” Ms. Tam said. “Show how you add value and continue to be the shining star that you are.”
