Greetings from the Global Summit of Women 2019, which has begun in Basel, Switzerland (#GSW2019). More than 1,000 women from all corners of the globe are gathering to celebrate and foster women’s empowerment in all areas of society, business, governments and non-profits.
Organised by the dynamic Washington DC-based Irene Natividad as President, this year’s Summit agenda is “Women: Redefining Success” and is sponsored by companies including MCM, Dufry, Credit Suisse, AXA, Engie and McDonald’s.
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| Irene Natividad, President of the Global Summit of Women, at the press briefing |
This year’s opening press conference saw the release of the Summit’s 2019 report “Women Directors in the World’s Largest Banks & Financial Services Companies”. It shows that only 25% of board seats are held by women in the largest financial institutions in the world, based in 18 countries. Regionally, Europe had the highest percentage of women directors in its largest companies at 34%, while the region with the lowest record of appointing women directors is Asia Pacific at only 12%.
Natividad announced four recommendations for businesses to boost the number of women in top positions, namely: Develop a pipeline for women in senior executive positions; Make a concerted national effort; Emphasise the business case for women on management boards (McKinsey, among others, has produced studies showing the correlation between the number of women on boards and company profitability); and, finally, Nomination boards and executive search companies must include women candidates.
Three formidable Prime Ministers also gave their views at the opening session. Each one was the first woman to hold their position in their respective countries of Namibia, Aruba and Kosovo.
Highlights of this inspirational session:
The Prime Minister of Namibia, Saara Kuugongelwa-Amadhila, is credited with creating the first-ever budget surplus in Namibia and furthering women’s empowerment in the country by instituting many government measures.
The Prime Minister of Aruba, Evelyn Wever-Croes, says her first priority in office was to create trust, as people had lost faith in politicians. She has created an Integrity Bureau to restore trust.
The former President of Kosovo, Atifete Jahjaga, who was also the former General Lieutenant Colonel of the police force in Kosovo, said she faced challenges when she took office, but celebrated the fact that she had inspired women to aspire to high office. She told the story of some young schoolchildren in Kosovo. When asked what they wanted to do when they grew up, the girls said: “To be President.” Asked if he wanted to be President one day, a little boy said: “Boys aren’t allowed to be Presidents in Kosovo.” She finished by saying: “Change starts with ourselves.”
