The Worst Company For Women Is Run By....

Berkshire Hathaway CEO Warren BuffettIn recent years, women have made some high-profile jumps to the tippiest-top of the corporate ladder, from Ginni Rometty at IBM to Marissa Mayer at Yahoo. But according to a new report, the overall picture is still bleak for women and minorities. At over half of the country's largest corporations, the highest-paid executive positions are filled exclusively by white men.

Calvert Investments analyzed the diversity of the S&P 100, 100 of the country's major corporations. And the report published Thursday by the investment management firm found that the pipeline to the top isn't just leaky for women, but full of gaping holes. While women are hired about as much as men, they make up just 8 percent of the highest-paid executives. The report ranked the S&P 100 according to various criteria, including their diversity at the top level and their diversity programs.

At the very bottom: Warren Buffett's firm

With just 5 points out of 100, Warren Buffett's multinational conglomerate, Berkshire Hathaway came in dead last. It may be the first time that investing legend Buffett (pictured above) has come at the wrong end of any business list. And it's not that Buffett is unaware that women have long been excluded from his industry. He once famously remarked that he was "privileged to work during a period when it was only necessary to compete against half of the population."

Rounding out the lowest 10 are: four energy companies; America's largest commercial real estate company, Simon Property Group; tobacco behemoth Philip Morris; pharmaceutical company Gilead Sciences; industrial manufacturer Emerson Electric; and eBay.

Another surprising CEO ranking poorly

It's ironic that eBay ranks so poorly since Meg Whitman's 10-year tenure as eBay's CEO has been seen as a landmark for women.

At the other end of the spectrum, the report spotlighted Citigroup Inc., Merck & Co., Coca-Cola Co. and JPMorgan Chase for their commitment to diversity.

CEOs try to keep their numbers secret

While most of the top companies had diversity programs, the report found that these don't seem to translate into promotions. But it's hard to tell. Under the Civil Rights Act of 1964, companies must submit the demographic data of their employees to the federal government. But only seven of the 100 companies let the public take a full peek.

More: Women In Tech: Why Is There No Female Steve Jobs?

In fact, companies are getting even more secretive with their data. Thirty-nine of the companies didn't release any of their demographics to the public at all. When CNNMoney asked the 20 leading tech companies for their diversity data, just two of them -- Dell and Intel -- agreed.

You can't hide a lack of diversity at the very top

White men, who make up just 38 percent of the population, run 91 percent of the S&P 100. (Energy companies appear to be the least welcoming of high-powered women.) But PepsiCo is the clear standout: Among the top five highest-paid executives is just one white man and a CEO who is both female and Indian-American.

Women and minorities are making better gains in the boardroom

Ninety-eight of the companies have at least one woman on their board of directors, and 86 percent have at least one member of a minority group. And at 71 percent of these companies, these women and minorities aren't so lonely -- with at least two other women or minority members at the table too.

Last year, the European Union adopted a proposal to require 40 percent of company board members to be female by 2020. But as the Calvert report shows, the U.S. would be unlikely to meet that standard. Over half of S&P companies don't even say that they look for diversity in their boards. Some are even hostile to the idea.

More: Do Women Have An Edge In The Job Search?

Berkshire Hathaway has stated: "Berkshire does not have a policy regarding the consideration of diversity in identifying nominees for director. In identifying director nominees, the Governance Committee does not seek diversity, however defined."

This might be a clue as to why the company scored so miserably on a diversity list.

Will Quotas Help Women Into the Boardroom?




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33 Comments

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packard54

Isn't it ironic that Warren Buffett is DEAD LAST! He claimed to pay less in taxes than his secretary and was supposedly ashamed of it. Truth is, he DOESN'T PAY TAXES AT ALL! He owes BILLIONS to the IRS and is Obama's best friend to boot! Maybe Buffett and Obama think we are stupid. They can GUESS AGAIN! And RTM, I agree with you! Hire AND promote the best and your company will always succeed!

May 11 2013 at 3:27 PM Report abuse +1 rate up rate down Reply
rtmsluci

Diversity blows. When you judge people by the color of their skin or what is or isn't between their legs instead of their accomplisments and talents, you are short changing your company. You will never be the best you can be if you don't hire the best you can find.

May 11 2013 at 1:30 PM Report abuse +2 rate up rate down Reply
Richard Rammer

"Over half of S&P companies don't even say that they look for diversity in their boards. Some are even hostile to the idea."
perhaps they are more concerned with qualifications than if you have a vagina

May 02 2013 at 5:08 PM Report abuse +2 rate up rate down Reply
Douglas Cox

Americans don't seem to understand that the corporations are need but they themselves need the everyday American person which needs to be enticed by the Mom and Pop Shops and also Affiliates of which the decisions
in the Corporate board rooms are not too swift. The decisions are not exactly the ones that should be. For mergers
just go ahead and make matters worse more times often the do. We need to return to the ways of TEDDY R. for he would like to bust Trusts. Today we should bust mergers. DOMOCO

March 09 2013 at 5:56 PM Report abuse rate up rate down Reply
sctmeyers

This article is a bit misleading. Warren Buffets Bershire Hathaway investment company directly employs about 19 people. Not a lot of positions (opportunity). I am not aware of the "turnover" rate at BH but will guess most employees have been there a while. If the article is taking into account the companies that BH invests in, then every shareholder, Mutual Fund investor is as guilty as Warren.

March 09 2013 at 12:41 PM Report abuse rate up rate down Reply
curtishuf

Get over yourself!!!!!

March 09 2013 at 11:45 AM Report abuse rate up rate down Reply
souldiva54

The companies with the worst hiring practices for women, should be ashamed of themselves!! It's very sexist and discriminatory!! They won't hire us because we get married and have babies (think about it you CEO Tycoons, a "woman" had you!!) don't hold it against us that we were blessed by God with a womb to have babies that grow up to become people like you!! I'm totally shocked that Warren Buffett is on this list, I thought he was an "open-minded progressive" thinker!!

March 09 2013 at 8:01 AM Report abuse -1 rate up rate down Reply
1 reply to souldiva54's comment
cammerconcepts

Maybe God wanted you to do what you do best and that's why he gave you a womb.

March 09 2013 at 10:41 AM Report abuse +1 rate up rate down Reply
2 replies to cammerconcepts's comment
mmast13995

Go jump off a bridge and ask your non-existant god to give you wings before you become a stain on the ground, let's see what happens first.

March 09 2013 at 11:34 AM Report abuse -1 rate up rate down
Jane

Well hunny, I wish God hadn't given your mother a womb.

March 09 2013 at 3:41 PM Report abuse -1 rate up rate down
jeffryj4

Can anyone say "quotas?"

March 09 2013 at 7:58 AM Report abuse +2 rate up rate down Reply
Kevin Bowman

Gotta love the reverse racism/sexism, this article is basically attacking white men for being successful and condemning us because other groups arent as successful as us. White men have run this World for a very long time and they have done a very good job at it and that isnt changing anytime soon. At the end of the day, these companies arent excluding women or minorities, they just dont have a lot to choose from and thats not Berkshire Hathaway's fault.

March 08 2013 at 10:35 PM Report abuse +1 rate up rate down Reply
Marc McNab

"With just 5 points out of 100, Warren Buffett's multinational conglomerate, Berkshire Hathaway came in dead last."
Berkshire Hathaway is a company worth billions. Looks like the management knows how to make wise decisions.
Would you rather be politically correct or a smashing success?

March 08 2013 at 9:45 PM Report abuse +2 rate up rate down Reply

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