Page 25 - ARUBA TODAY

BUSINESS Monday 28 May 2018
A25

Women CEOs still a rarity, but pay tops that of men

By SARAH SKIDMORE
SELL, AP Business Writer
Female CEOs remain
scarce at the biggest pub-
licly traded companies but
those who hold the top job
receive pay competitive
with male peers.
Women make up only 5
percent of the CEO ranks
at S&P 500 companies. Yet
median compensation for
a female CEO was valued
at $13.5 million for the 2017 This photo combination show the five highest-paid female CEOs for 2017, as calculated by The Associated Press and Equilar, an
fiscal year, versus $11.5 mil- executive data firm.
lion for their male coun- Associated Press
terparts, according to an 10 list overall. She’s number Josh Crist, managing direc- though: female represen- now have been in their ca-
analysis by executive data 18. The analysis by Equilar tor at executive search firm tation on boards is improv- reers for 20 or 30 years, so
firm Equilar done for The As- looked at pay trends for Crist Kolder Associates. ing, according to Catalyst, their rise reflects the corpo-
sociated Press. 339 CEOs who have been The situation could get a nonprofit that works with rate culture of the 1980s.
Topping the list of highest- in their position for at least even more attention after companies to build a di- He worries real change will
paid female CEOs is Indra two full years at S&P 500 the recent departures of verse workforce. And that, take years.
Nooyi, CEO of PepsiCo, companies that filed proxy female CEOs from Camp- over time, leads to more Brande Stellings, senior vice
whose compensation was statements between Janu- bell Soup and Mattel. Both women in executive lead- president of advisory ser-
$25.9 million. Debra Cafaro, ary 1 and April 30. Some were replaced by men. ership positions. vices at Catalyst disagrees.
CEO of real estate invest- companies with highly paid A Pew Research Center Companies are seeking di- She said companies that
ment trust Ventas came CEOs do not fit these crite- study found that women versity, both in gender and make the decision to
in second at $25.3 million. ria, such as Oracle. held only about 10 percent ethnicity, for their leader- change have been able to
And Mary Barra, CEO of Of the companies in the of top executive positions ship, Crist said. But getting do so quickly.
General Motors, wrapped analysis, only 17 were wom- at publicly traded com- diverse talent at the top “The differentiator is not
up the top three at $21.9 en. Looking at the full S&P panies in the much larger takes time because of the generation or time, but it’s
million. Median pay for fe- 500, there were 27 female Standard & Poor’s Com- change needed through- how much does it matter to
male CEOs rose 15.4 per- CEOs as of the end of 2017, posite 1500. Of that group, out the organization. the leader or organization,”
cent from the prior year, up from 24 at the end of the women tended to be Part of the problem is that she said. “When someone
while for men it increased 2016. in finance or legal positions big companies can be asks to make the business
8.2 percent. But Nooyi, “The inability to push sea- that research shows are less slow-moving, said Drew Sil- case for diversity, that case
the top paid female CEO, soned females up the ranks likely to lead to the CEO of- ver, a researcher at Pew. is out of the gate. They are
didn’t even crack the top is tragic in my mind,” said fice. There is a bright spot, The female CEOs in charge more into the how.”q

Court: Gov’t violated privacy law for defrauded students

lyzes average earnings of Social Security Administra- The court also said that it
graduates from similar pro- tion data in order to cal- needs to hear more from
grams. culate loan forgiveness the agency and plaintiffs
But a California district violates the Privacy Act. in the class-action suit in
court ruled late Friday that The court ordered that the order to decide whether or
the department’s use of Education Department not to compel the agency
stop the practice and stop to return to full loan forgive-
debt collection from these ness. A hearing is sched-
students. uled for June 4.q

In this Sept. 7, 2017, file photo, Education Secretary Betsy DeVos
speaks at George Mason University Arlington, Va., campus. On
Friday, May 25, 2018.
Associated Press
By MARIA DANILOVA ministration policy, Educa-
Associated Press tion Secretary Betsy DeVos
WASHINGTON (AP) — A announced in December
federal court has ruled that some students cheat-
that the Education Depart- ed by the now-defunct
ment violated privacy laws schools would only get a
with regard to students de- part of their federal student
frauded by the Corinthian loan forgiven. In order to
for-profit college chain. determine how much to
In a break with Obama ad- forgive, the agency ana-