NAFE Names Bristol-Myers Squibb a Top 50 Company for Executive Women
List Honors Companies for their Dedication to Women’s Advancement
Myriam Exumé, Bristol-Myers Squibb Global Marketing employee
Bristol-Myers Squibb has been named to the Top 50 Companies and 10 Nonprofits for Executive Women by the National Association for Female Executives (NAFE). The list recognizes organizations whose policies and practices encourage women’s advancement and whose numbers at the highest levels of leadership demonstrate that commitment.
“We are proud of this prestigious recognition because it acknowledges the leadership talents and contributions of women throughout our organization who drive our business strategy as a next-generation BioPharma leader. Women run some of our key businesses around the world and serve on our Management Council as well as our Board of Directors,” says Jim Cornelius, chief executive officer.
“The NAFE honor also recognizes the programs and policies we have in place to ensure that women have equal opportunities to advance and excel in their careers at Bristol-Myers Squibb – critical components of our talent and diversity and inclusion strategy,” he continues. “Diversity of people, perspective and experience bring to life our Mission to help patients prevail over serious diseases. Having programs in place to support our diverse workforce and help our employees reach their potential is good for business.”
This is Bristol-Myers Squibb’s eighth consecutive year on the NAFE list. When compared with all companies applying for this year’s honor, Bristol-Myers Squibb ranked Above Average in both “Advancement Programs for Women – Availability and Participation” (74.2 percent) and “Representation of Women at Higher Levels” (71 percent). For “Work Life Support Programs,” the company ranked High at 94.6 percent.
Bristol-Myers Squibb’s initiatives to promote gender equality in the workplace include structured one-on-one and group mentoring programs, which connect women with more senior men and women in different parts of the company. These programs are available to women at every level in the organization. In 2009, more than 125 women participated in structured mentoring programs. In addition, women hold 16 percent of the company’s top leadership positions and run roughly half of its largest businesses.
Benchmark for Corporate America
NAFE’s list serves as an annual benchmark for corporate America. The number of women responsible for running operations (profit-and-loss, or P&L positions) at the NAFE Top Companies has reached 26 percent, significantly more than the 11 percent at Fortune 500 companies as counted by Catalyst. At 13 of the NAFE Top Companies, women run a third or more of billion dollar-plus operations. When it comes to board membership, women at the NAFE Top Companies occupy 23 percent of seats, compared with the Fortune 500’s 15 percent.
To be declared a NAFE winner, companies must have at least two women on the board and track gender in P&L jobs, something many have not done before.
NAFE will honor the Top Companies at a luncheon at Cipriani 42nd Street in New York City on March 25. That morning, senior women executives from the NAFE Top Companies will meet at the closed door NAFE Roundtable to discuss critical business issues, including how to ensure an increase in women-run operations. This year, Jill DeSimone, senior vice president, Virology, U.S., will represent Bristol-Myers Squibb at this important meeting.
Methodology: In addition to assessing corporate programs and policies dedicated to advancing women, NAFE measured results, examining the number of women in each company overall, in senior management, and on its board of directors. They drew particular attention to the number of women with profit-and-loss responsibility. To be named to the NAFE Top Companies for Executive Women, companies with a minimum of two women on the board completed a comprehensive application that focused on the number of women in senior ranks (compared with men and with the company population), including questions about the programs and policies which support women's advancement.
About NAFE: The National Association for Female Executives (NAFE), founded in 1972, serves 20,000 members nationwide with networking, tools and solutions to strengthen and grow their careers and businesses. NAFE magazine publishes the annual Top Companies issue and the annual Women of Excellence issue. NAFE.com provides up-to-date information, community for women in business and access to member benefits. NAFE is a division of Working Mother Media and Bonnier Corporation.