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Contact Joan Toth, Executive Director, Network of Executive Women (NEW)
Tel. (312) 693-5393 | E-mail jtoth@newonline.org | www.newonline.org

NEW women of color report outlines industry’s challenges, opportunities

NEW urges action on the promotion of women of color

CHICAGO (June 15) -- The Network of Executive Women has issued a new report urging action on the promotion of women of color in the consumer products and retail industry. The report, “Women of Color: The Challenge and Opportunity Ahead,” includes a 10-point corporate action plan to help address what it calls the “stubborn lack of progress” in promoting women of color to senior management positions.

The new white paper points out that only one Fortune 500 CEO is a woman of color, and quotes a Catalyst study revealing that women of color hold only 1.6 percent of corporate officer positions at 429 of the Fortune 500 companies surveyed. The non-profit association says that women of color lag behind not only white men but white women in promotion and pay.

The Network’s 10-point corporate action plan includes such recommended steps as crafting a diversity plan, setting goals, establishing benchmarks and creating support networks and programs for women of color.

‘Good for growth’

The NEW report refers to a recent Catalyst study as evidence that promoting women is “not just good policy, but good business.” According to the survey, companies with the greatest gender diversity in their ranks have a 35 percent higher return on equity than companies with the lowest women’s representation.

Gender and ethnic diversity in management “is good for growth,” the report concludes. “Executive women of color are a vast underutilized business resource. Their leadership can be the key to new markets, increased consumer loyalty, greater productivity, creativity and diversity in decision-making, and fresh insights to your customers.”

“We’ve run out of excuses,” commented NEW board member Trudy Bourgeois, president and CEO of the Center for Workforce Excellence. Bourgeois helped spearhead the NEW Women of Color initiative that led to this month’s report.

“It’s not a pipeline issue,” Bourgeois said. “It’s an emotion issue. It’s about the willingness of people to change. She said, “A lot of lip service is being paid – some people see this as the politically correct thing to do, but in order to thrive organizations must fully engage every employee and fully serve every consumer.”

NEW Executive Director Joan Toth said the white paper is the second in a series of Best Practices reports designed to help NEW sponsors and members realize “the full potential of management diversity.” In addition to the white paper series, “NEW will continue to consult and advise its  members on diversity issues, hold networking events, facilitate mentoring and champion the cause  of industry diversity,” Toth said.

To inquire how your company can receive this and other Best Practice Series white papers, contact NEW Executive Director Joan Toth at (312) 693-5393, or e-mail jtoth@newonline.org.

One thousand members

The Network of Executive Women, Consumer Products and Retail Industry, is comprised of more than 1,000 individual members, including senior executives, emerging leaders and academics and students. They represent more than 300 organizations, including grocery, chain, drug and mass retailers, wholesalers, CPG manufacturers, consultants and sales agents, and associations and media.

The Network is supported by its membership and its corporate sponsors, including Accenture, PepsiCo, Ahold USA, Procter & Gamble, Coca-Cola North America, Wal-Mart/Sam’s, Johnson & Johnson, ConAgra Foods, Leadership  Network Corporation, Deloitte, 7-Eleven, The Gillette  Company, Trade  Marketing Group, GSP Marketing  Technologies, Tyson  Foods, Kraft Foods, US Smokeless Tobacco, AC Nielsen, the Hershey Company, Campbell Soup Co., Kellogg's, Del  Monte Foods, Sara  Lee Coffee & Tea, Cadbury Adams, Flowers  Foods, Daymon Worldwide, Mass  Connections, Giant Eagle, Meijer, J.B.  Hunt and Morton Salt / Rohm and Haas

For more information on the Network of Executive Women, its upcoming Leadership Summit Sept. 26-27 and its education, mentoring, networking and leadership development programs, contact Executive Director Joan Toth at (312) 693-5393 or visit www.newonline.org.

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