Top of Mind Thursday October 10, 2013: A Breakthrough Appointment

Top of Mind Thursday
This week President Obama appointed Janet Yellen to be the next head of the Federal Reserve Bank–the first woman to be nominated in the Bank’s 100 year history.

Leverage2Market LogoWhile it’s nice to see women considered and appointed for these positions, what’s often lost in these announcements is the fact that the appointees are highly qualified. In this case, Janet Yellen is most likely the best qualified person to run the Federal Reserve, having served as vice chairman for the last several years.

Contrast this to social media darling Twitter, whose imminent IPO announcement revealed that there are no women on its Board of Directors, even though by far the majority of Twitter’s users are female.

Unfortunately, too many senior management positions still go to the “old boys network,” which is too bad because there are so many qualified choices that represent the diverse audiences these institutions serve.

We will have truly achieved breakthrough when these type of appointments are no longer news worthy but routine and expected. Progress is happening, but we’re not there yet.

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