Means getting more of them on corporate boards
When Alcatel-Lucent, the ailing Franco-American telecoms company, bid a less-than-fond adieu to Patricia Russo last week, French business lost one of its most prominent female chief executives—even if she was une américaine.
In Ms Russo’s native country, two senior women on Wall Street have also walked the plank: last November Morgan Stanley fired Zoe Cruz, one of the bank’s two co-managing directors, and in June this year Erin Callan, the chief financial officer of Lehman Brothers, was ousted from her role.
In one sense, these departures are not exceptional: rarely a day goes by in the current economic downturn without an announcement that another CEO or senior lieutenant has been shown the door because of sagging sales, plunging profits or a combination of the two. Wall Street, in particular, has seen a long line of (mainly male) heads stuck on stakes outside its troubled banking halls. All three companies cited above have produced appalling results over the past 12 months, so some blood-letting at the top was inevitable.
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