Catalyst CEO Champions for Change Outperform the S&P 500 for Advancing Women Leadership in the WorkplacePitney Bowes (8:11PM)
Business Wire India
Pitney Bowes (NYSE:PBI), a global technology company that provides innovative products and solutions to power commerce, is being recognized today by the Catalyst CEO Champions For Change initiative. Catalyst CEO Champions for Change is a collective of 50 high-profile CEOs who visibly support and drive diversity, inclusion and gender equality within their organizationsto advance women into leadership roles. According toa progress report released today by Catalyst, using baseline data mined from all Catalyst Champion companies, findings show that the Catalyst Champion organizations, including Pitney Bowes, are outperforming their peers in the S&P 500 in all areas of women's representation.
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Pitney Bowes has previously earned the Catalyst Award for its diverse and inclusive practices toward women who now represent 42% of its global workforce, 27% of its senior management, 30% of the CEO's senior management team, and 36% of its Board of Directors.
"We commend Pitney Bowes along with the other Catalyst Champion CEOs who represent a passionate group of change agents. They are already leaders and champions of gender equality and inclusion. Now they are taking bold action, holding themselves publicly accountable for doing the right thing and inspiring all of us to do more," says Deborah Gillis, President and CEO, Catalyst.
"Our commitment to diversity, inclusion, and open markets is the right thing to do, it's imperative for our business, and it is core to who Pitney Bowes has been for nearly 100 years," said Marc Lautenbach, President and CEO of Pitney Bowes. "Our company has evolved and adapted throughout almost a century of change, guided by these unassailable truths. We will continue to be vigilant to our values which are that we do the right thing the right way."
Findings from the report include:
Catalyst Champion companies outperform their S&P 500 peers in advancing women at all levels of the organization, specifically among board seats (29.0% Catalyst Champion vs. 21.2% S&P 500), executive/senior-level positions (27.9% Catalyst Champion vs. 26.5% S&P 500) and first-/mid-level positions (38.4% Catalyst Champion vs. 36.9% S&P 500).
Catalyst Champion companies outperform their S&P 500 peers in advancing women of color at all levels of the organization, specifically among board seats (6.0% Catalyst Champion vs. 3.8% Fortune 5001), executive/senior-level positions (5.2% Catalyst Champion vs. 4.7% S&P 500) and first-/mid-level positions (11.3% Catalyst Champion vs. 10.5% S&P 500).
To add context, even what looks like relatively small progress in some cases can have a large impact. For example, Catalyst's analysis shows that improving the total number of women in leadership roles by 1% across all S&P 500 companies would result in 12,000 more women in these roles.
About Pitney Bowes
Pitney Bowes (NYSE:PBI) is a global technology company powering billions of transactions – physical and digital – in the connected and borderless world of commerce. Clients around the world, including 90 percent of the Fortune 500, rely on products, solutions, services and data from Pitney Bowes in the areas of customer information management, location intelligence, customer engagement, shipping, mailing, and global ecommerce. And with the innovative Pitney Bowes Commerce Cloud, clients can access the broad range of Pitney Bowes solutions, analytics, and APIs to drive commerce. For additional information visit Pitney Bowes, the Craftsmen of Commerce, at www.pitneybowes.com.
Catalyst is a global nonprofit working with some of the world's most powerful CEOs and leading companies to help build workplaces that work for women. Founded in 1962, Catalyst drives change with pioneering research, practical tools, and proven solutions to accelerate and advance the progress of women into leadership — because progress for women is progress for everyone.
Due to the lack of available data on women of color among Boards of Directors in the S&P 500, the survey findings for this category were compared against the Fortune 500 index. See Alliance for Board Diversity and Deloitte, Missing Pieces Report: The 2016 Board Diversity Census of Women and Minorities on Fortune 500 Boards (February 6, 2017).
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