Subscription
Manage your print subscription Manage>

#MeToo drove a rise in CEO firings in 2018

Firings of S&P chief executive officers related to the movement accounted for five of 12 dismissals last year, Conference Board report says

Reuters
Nov 20, 2019 ??? ??? 1 minute read
Scrutiny of executives and their treatment of employees has intensified in light of the #MeToo movement, which has spurred more scrutiny of top managers' relationships with employees.
Scrutiny of executives and their treatment of employees has intensified in light of the #MeToo movement, which has spurred more scrutiny of top managers' relationships with employees. Photo by David McNew/AFP/Getty Images files

The number of corporate leaders fired for #MeToo-related misconduct rose in 2018 while the number of S&P 500 companies led by females fell 20 per cent, according to a report from U.S. think-tank the Conference Board.

Firings of S&P chief executive officers related to the social media movement accounted for five of 12 dismissals last year, according to the report, published on Wednesday. In contrast, just one CEO was dismissed for personal misconduct between 2013 and 2017, it said.

More On This Topic

The percentage of departures which were non-voluntary rose 8 percentage points from 2017 to 30.5 per cent, the report added.

It also showed the number of women CEOs falling to 22 from a record 27 in 2017. Last year, Kathy Warden of Northrop Grumman was the only woman appointed to a top job.

Story continues below
This advertisement has not loaded yet, but your article continues below.

Scrutiny of executives and their treatment of employees has intensified in light of the #MeToo movement, which has spurred more scrutiny of top managers’ relationships with employees.

The Conference Board said that departing executives had also tended to serve longer in their roles before leaving. In 2018, outgoing CEOs had been in their roles for an average of 10 years, compared to a low of 7 years during the financial crisis.

“The rate of succession among older chief executives continues to climb, and there are still more CEOs aged 75 and over than there are CEOs under the age of 45,” said Matteo Tonello, the principal author of the report, who oversees the think tank’s environmental, social, and governance research.

? Thomson Reuters 2019

Trending

This Week in Flyers

Comments

Postmedia is committed to maintaining a lively but civil forum for discussion and encourage all readers to share their views on our articles. Comments may take up to an hour for moderation before appearing on the site. We ask you to keep your comments relevant and respectful. We have enabled email notifications—you will now receive an email if you receive a reply to your comment, there is an update to a comment thread you follow or if a user you follow comments. Visit our Community Guidelines for more information and details on how to adjust your email settings.

首播影院-电影大全 - 高清在线观看 - 海量高清视频免费在线观看