The Independent Uganda: You get the Truth we Pay the Price
But in most cases the performances turned in by women CEOs surpassed the industry average.
Shares in women-led businesses have produced 25 percent annual returns since 2009 compared to only 11 percent for the MSCI World index of large and mid-cap companies, according to a study of 11,000 companies in 27 developed countries that was produced this month by Nordea Bank AB.
Activist investor Nelson Peltz has faced criticism after campaigning to remove Nooyi, Kullman and Rosenfeld through his investment firm Trian Partners.
– Peltz and women CEOs –
Trian rejects the idea that gender played any role in the firm’s actions.
“To suggest that Trian targets women CEOs is tired rhetoric,” a company spokesperson said, adding that female leadership in Trian’s portfolio companies had actually grown.
“Furthermore, when we join boards, we are strong proponents of diversity at all levels.”
Out of 28 investor campaigns launched by Trian since its creation in 2005, three have targeted women-led companies, meaning 89 percent targeted male corporate leaders, including Jeffrey Immelt of General Electric, who recently stepped down.
Dan Zacchei, managing director at Sloane & Company, which advises activists and companies, said investors should take care to avoid creating an impression that women CEOs are being “targeted disproportionately.”
“Having a reputation for gender discrimination could not only alienate the press and institutional investors but a fund’s existing investors as well,” he said.
